How the government wastes £13 billion .How to boost Growth by £4bn and cut the Deficit by £3bn

Posted by Jonathan Pile on Thursday, November 8, 2012 Under: Health and Safety

Every Safety Professional knows that accident,injury and sickness wastes both lives and money. The latest HSE digest of statistics shows that Britain annually wastes over £13 billion through lack of effective safety compliance. For families and workers a staggering £4 billion is lost in wages and income through time off due to accident caused illness and injury, losing the taxman £646m in lost tax and national insurance and costing the DWP almost £2billion in benefits payments. This costs companies to pay £1billion in sick pay and SSP and almost £2billion in Employer Liability premiums. Even the £21million cost to administer the insurance and compensation claims shows the level of waste, the exact amount of fines imposed on companies for non-compliance by the HSE. It costs employers even £46 million to investigate and prosecute HSE offences. The NHS pays out £667 million for Hospital treatment and rehabilitation costs. The greatest financial cost is the £7.6 billion the HSE attribute to the "Monetised value of non-financial human costs".  - what price grief?

In : Health and Safety 

Tags: save £13billion.