REFORMING WORKPLACE INJURY CLAIMS BREAKFAST

New South Wales risks losing its competitive edge unless immediate action is taken to reform the state’s workers’ compensation system. That was the message from NSW Treasurer, the Hon. Daniel Mookhey MLC and NSW Minister for Industrial Relations, The Hon. Sophie Cotsis MP who addressed business leaders at a joint Business Sydney and Business NSW breakfast forum, hosted by MinterEllison.

The Treasurer warned that the system is on “autopilot” — and unless it’s brought under control, spiralling costs will hit employers hard, just as the economy needs stability and confidence to grow.

Business NSW is leading the charge to keep downward pressure on premiums. It is actively engaging with both sides of Parliament to ensure critical reforms are passed before the end of the week. The stakes are high: if premiums increase by the forecast 36% over the next three years, thousands of businesses — particularly small and medium-sized enterprises — could be forced to cut jobs, scale back operations or close entirely.

Business NSW and Business Sydney are again urging the NSW Parliament to come together in the best interests of workers and businesses alike. Fixing the system now will protect jobs, safeguard livelihoods and keep NSW open for business.

After the Treasurer's address, Business NSW CEO, Daniel Hunter facilitated an in-depth discussion on this important topic for businesses with the Treasurer and Minister Cotsis.

Thank you Kristy Edser, Partner, MinterEllison in Sydney for supporting the breakfast event.