Labour's backing changes to the way ACC levies are set - for the time being.

It's backed the first reading of a Government Bill that reforms the scheme and imposes more transparency and stability on the setting of ACC levies.

Andrew Little is critical of the Bill saying ACC can already do most of the things it proposes.

But his party wants to see if it does add anything.

"And if we aren't satisfied that it's going to add anything of any value at all then we won't support it beyond that.

"Let's have it examined."

ACC Minister Nikki Kaye says the Bill is the beginning of a new era of financial sustainability and high performance for ACC.

"More transparency is needed so we can ensure that the downstream consequences of funding decisions are clear."