67927 (2024). Rachel Boyack to the Minister for ACC

67927 (2024). Rachel Boyack to the Minister for ACC: What factors, if any, drove the $8.7 billion increase in ACC’s Outstanding Claims Liability calculation; broken up by factor and projected cost?

Hon Matt Doocey: I am advised of the following factors: The impact of court decisions resulted in a $3.61b increase. Expected increase in claims. Each year, the cost of new claims entering the Scheme exceeds the cost of existing claims exiting the Scheme. The effect of this growth towards Scheme maturity in 2023/24 was an increase of $3.46b. Declining rehabilitation performance resulting in a total increase of $3.07b. Economic assumptions, while higher discount rates have contributed to a $1.8b increase, higher inflation has offset this by $0.35b, resulting in a decrease of $1.45b. Total increase of $8.69 billion