The Illawarra Business Chamber has today welcomed the further 5% cut to workers compensation announced today by the Premier, Mr Iemma and the Minister for Commerce John Della Bosca.

“This is the third cut to NSW workers compensation costs in a year, reducing costs by a cumulative 20% saving NSW businesses over $560 million a year”, said Mark Grimson, CEO of Illawarra Business Chamber.

“The elimination of the WorkCover deficit is also good news and it reflects the fine work of Minister John Della Bosca and WorkCover NSW in turning the financial performance of the scheme around.

"NSW average workers compensation premiums are now at the lowest level they have been for over 11 years, that’s good news.

“We particularly welcome the announcement to exempt apprentices from workers compensation premiums.

“This is an initiative that IBC has long supported and something we have raised with Minister Campbell in his capacity as Minister for the Illawarra and Small Business to assist addressing local skill shortages in many of our traditional trade areas.

“Today’s announcement will be welcomed by Illawarra employers and should encourage local employers to take on more apprentices, said Mr Grimson.

We now call on the Government to back up today’s announcement by introducing and passing the Draft OH&S Bill released by Minister Della Bosca in May.

“IBC together with ABL State Chamber have indicated to the Premier that for the business community, the passage of this Draft Bill is the litmus test for the Government’s statement that ‘NSW is open for business’.

“This Draft Bill needs to pass through the Parliament in this session. We support the Della Bosca Draft Bill and it should be passed immediately.

For more information contact Mark Grimson on 4229 4722 or 0409155240.