WORKERS’ INSURANCE.

Manawatu Standard, Volume XLVI, Issue 173, 23 June 1926, Page 9

WORKERS’ INSURANCE.

INCREASE IN THE COST. SYDNEY, June 22. The schedule of rates for insurance under the’ Workers’ Compensation Act, which comes into operation on July 1, shows an increase of 150 per cent, over the old rates, plus 40s per cent, for sickness. In the case of builders’ employees the rates are increased from 30s to /£5 15s per cent.; clerical workers, from 2s 6d to 46s 3d; printers, from 13s 6d to 73s 6d. The rates for other employments are correspondingly increased.

A prominent master builder states that tho increased liability will place an additional burden of £250,000 annually on builders. A workman’s home at present costing £BOO, will in future cost about £B2O. —Press Association. BURDEN UPON INDUSTRY. INCREASE IN~BASIC WAGE. Received June 23, 9.40 a.m. SYDNEY, June 23. The employers, generally, consider that tho new Workers’ Compensation Act will place a heavy burden upon industry in practically every instance. It is considered that an increase in the cost of goods supplied or services rendered will he inevitable in order to meet the extra cost of insurance. This means an increase in the basic wage. The public will suffer in the long run. A notable development'is the tendency of certain sections of the employers to form their own insurance companies. The Master Builders’ Association and tho Retail Traders’ Association already have decided to do this. In each instance the operations of the companies will be confined to tho members of the organisations concerned. The Local Government Association has been asked to consider the formation of an insurance company for the employees of municipalities.— Press Association.