Business leaders say they will hold Queensland Treasurer Curtis Pitt to his promise that workers’ compensation premiums will not exceed $1.20 per $100 in wages, following a reversal of the previous government’s legislation.

Chamber of Commerce and Industry Queensland (CCIQ) Director of Advocacy Nick Behrens has voiced his “concern and disappointment” at the changes, following passage of the Workers’ Compensation and Rehabilitation and Other Legislation Amendment Bill 2015.

“CCIQ remains of the view that the 2013 reforms, which introduced a threshold for common law claims, brought greater balance to the workers’ compensation scheme in Queensland,” he said.

“This undoubtedly had a positive impact on average premiums payable by employers through the scheme, which ultimately encourages small business in Queensland to invest in their business and employ more staff.”

The chamber says it is “seriously concerned” at the latest changes’ impact on premiums.

Mr Behrens says the Labor Government has given repeated assurances premiums will remain, on average, at $1.20 per $100 in wages.

The chamber fears the changes will mean the break-even premium will rise to $1.36.

He has referred to comments by Mr Pitt that modelling on the five years to 2019/20 shows that, based on current trends, the removal of the common law threshold can be achieved without affecting the average premium, “given WorkCover’s substantial reserves that have accumulated since 2010”.

“CCIQ takes this commitment from the State Government in good faith and puts it in the public domain for the sake of accountability,” Mr Behrens said.

“Workers’ compensation premiums are a central element in the state’s efforts to ensure Queensland is the best place to do business in Australia.”