Six figure STFU clause yet another pox on the Reserve Bank

The Taxpayers' Union is slamming the news that disgraced former Reserve Bank Governor, Adrian Orr, is subject to a gagging clause applicable to not just the Bank, but the Government and Minister of Finance.

Taxpayers' Union Executive Director Jordan Williams said:

“The documents obtained by Newsroom and shared with the Taxpayers' Union demonstrate how false the claims about the $416,000 so-called ‘restraint of trade’ really are. This is a classic gag agreement - designed to protect the reputations of the elite and shun public scrutiny.”

"Taxpayers' money should be not be used to buy the silence of a disgraced former public servant. Nor should someone who, apparently, resigned be given a 'golden goodbye' for agreeing to keep their mouth shut."

"Unless the Reserve Bank - and the Minister - waive the requirements on Mr Orr not to speak, it makes a mockery of public assurances of transparency."