Hon IAIN LEES-GALLOWAY: The Government has lowered the funding targets for the levied accounts to ensure levies reflect the true cost of accidents and minimise long-term impacts on levy payers. ACC's previous funding target of 105 percent solvency for the levied accounts was more suited to a private insurance company. We are lowering this target to 100 percent solvency, which is appropriate given ACC's unique position as a mandatory sole provider and Government-supported social insurance scheme. Budget 2020 improved ACC's long-term sustainability with an extra $285 million contribution in the taxpayer-funded non-earners account, which covers injury costs for those who are not earning and paying levies, including children, students, and retirees. Cost pressures in the non-earners account have not been addressed under previous Governments since 2014. Together, these changes mean the amount Kiwis contribute to ACC will be fair and sustainable now and into the future.