Premiums for most Victorian small businesses have been frozen for the 2001/02 year. Workcover CEO Bill Mountford said the authority’s emphasis now is on providing “security and stability” in premiums for the immediate future.

The promise comes as the Victorian system continues to bleed red ink. Liabilities now exceed $1.1 billion, and WorkCover has conceded that the system won’t be fully funded until 2006 – three years longer than originally promised.

But the State Opposition says some big employers face WorkCover premium increases of at least 20% next year. Spokesman Robert Clark said the standard premium rate for employers in 163 of the state’s 518 industry groups will rise.