WorkCover insurance premiums will stay the same in the coming financial year, announced Treasurer and Minister for Employment and Industrial Relations Curtis Pitt.

Mr Pitt said WorkCover Queensland would maintain the average premium rate of $1.20 per $100 in wages paid, the lowest average premium rate of any Australian state.

“This is a great result for Queensland business, particularly for those businesses that get a competitive advantage when they trade interstate,” he said.

“The strong performance of WorkCover can be attributed to the previous Labor Government’s 2010 workers’ compensation legislative reforms, whose benefits are now being realised.

“It is because of those reforms that the scheme is on a very healthy financial footing.”

Mr Pitt said the Palaszczuk Government was committed to restoring fairness to Queensland’s workers’ compensation scheme.

“That means fairness to both workers and employers,” Mr Pitt said.

“The harsh and unfair common law amendments introduced on 15 October 2013 by the previous LNP Government are only now starting to flow through in the claims data.

“The unfairness of the LNP’s Work Compo scheme isn’t being seen yet, because many claims haven’t been lodged.

“The Palaszczuk Government is acting quickly and decisively to right the wrongs of the Newman area.”