Shadow Treasurer Angus Taylor has accused Jim Chalmers of seeking to politicise the Reserve Bank by 'stacking the board with his mates'.
Shadow Treasurer Angus Taylor has accused Jim Chalmers of seeking to politicise the Reserve Bank by "stacking the board with his mates".
Mr Taylor was consulted for the review and initially spoke favourably about the prospects of bipartisanship.The bill seeks to create two boards instead of one: a board to make interest rate decisions, and another board to take care of corporate governance.They will also have fresh selection criteria, prioritising a range of expertise including technical expertise, which the reviewers said was lacking under current arrangements.
"The treasurer should not be given the option of stacking the board with his mates. It is abundantly clear Jim Chalmers wants to spill the board and stack it with his mates." Governor of the Reserve Bank of Australia Michele Bullock speaks to the media during a press conference in Sydney, Tuesday, February 6, 2024."Whether that's a couple of people governance or some other number, that remains to be seen," he said last week.With this language, he raised the prospect that some current board members may not even want to move across.
A spokesperson for the treasurer rejected the suggestion the government wanted to stack out the board, but defended the government's right to make appointments based on its own assessment of relevant experience.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Interest rates: RBA overhaul in doubt after Treasurer Jim Chalmers rejects Coalition’s key demandTreasurer Jim Chalmers has rejected a Coalition demand that he appoint all existing RBA board members to the new interest-rate setting board.
Read more »
New banking rules: Treasurer Jim Chalmers pushes planning scheme and regulatory gridThe Treasurer said the so-called regulatory grid would force regulators to consider the burden of changes on lenders, especially smaller and regional groups.
Read more »
Mariana Mazzucato to meet Treasurer Jim Chalmers as she touts benefits of ‘mission economy’Economist Mariana Mazzucato is on a week-long tour of Australia touting the benefits of a “mission economy” – or how to do industrial policy differently.
Read more »
Business Summit: How Treasurer Jim Chalmers says Labor is modernising the economyThe Albanese government will make our economy more productive by easing compliance costs on business where we can, we will abolish hundreds of nuisance tariffs.
Read more »