$56 million price tag for half-full Reserve Bank office

The New Zealand Taxpayers’ Union is calling out the Reserve Bank of New Zealand for more than quadrupling its Auckland lease costs under former Governor Adrian Orr’s 10-year Britomart lease.

Taxpayers’ Union Investigations Coordinator Rhys Hurley said:

“Even after he’s gone, Taxpayers are once again forced to underwrite Orr’s empire-building at the Reserve Bank."

“6-figure golden handshakes, two and a half times more staff than 2018, and a $14.5 million fit-out for a half-empty luxury office in Auckland are just part of the former Governor’s legacy of waste.”

“The Reserve Bank has been the poster-child for government waste over the last seven years. Hopefully the incoming Governor can learn from her predecessor’s mistakes.”