STATE INSURANCE
HEW SOUTH WALES A PROFITABLE YEAR. Frees Association—By Telegraph—Copyright. SYDNEY, November 10. (Received November 10, at 9.15 a.m.) The first annual report of the Government Insurance Office discloses the accumulated surplus, inclusive of funds controlled by the Treasury Board since to be £480,000. Administrative costs for the year 1926 amounted to 9.02 per cent, only, which it is claimed will be a repudiation of the charge that insurance business cannot be carried on by the State with efficient economy. "The report urges the Government to consider, first, that the present system as a medium for compensation should be discontinued in New South Wales; and, secondly, that a State Workers’ ■Compensation Fund should be established, to be contributed to by the employers on a basis of their annual assessment, and a flat rate, chargeable on wages. It is claimed that by such a scheme the cost of compensation would he reduced to a. minimum, and the result would be considerable financial relief to tho community.
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Evening Star, Issue 19710, 10 November 1927, Page 4
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166STATE INSURANCE Evening Star, Issue 19710, 10 November 1927, Page 4
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