Reserve Bank keeps Minister in the dark, again

Reacting to reporting by Newstalk ZB that Finance Minister Nicola Willis' says she only learned of Reserve Bank Governor Adrian Orr’s severance package when it was made public, the Taxpayers' Union is reiterating its call for the Board to be held to account by Minister Willis.

Taxpayers' Union Executive Director Jordan Williams said:

“Assertions that the Minister of Finance knew nothing of Adrian Orr’s outrageous severance package until yesterday are baffling. So much for the ‘no surprises’ policy."

“Why on earth would the Board think that they needed to restrain Orr’s activities for a period after his departure? This makes absolutely no sense at all. The public deserve full disclosure of the terms and conditions for this payment. In concealing this payment until minimal disclosure was forced upon it through the annual report, the Board have acted in bad faith.”

“The Board has not served the Minister, nor the Government and definitely not taxpayers well. We repeat our call for the Minister to act, and for the Board to be held to account."