REVEALED: Reserve Bank Spent $852,000 Shuttling Staff Between Its Two Offices

The New Zealand Taxpayers’ Union can reveal through an Official Information Act request that the Reserve Bank spent $851,997.35 last financial year flying staff between its Wellington and Auckland offices and has since pored $56 million into an Auckland workspace that remains half-occupied.

The Bank also confirmed that around 45 staff travelled between the two offices ten or more times each in that year.

Taxpayers’ Union Investigations Coordinator, Rhys Hurley, said:

“Taxpayers are already forking out $56 million for a half-empty Auckland office. Now we’ve found they’re spending nearly $852,000 a year shuttling staff up and down the country to fill it.”

“This is one of the worst examples of waste layered on top of waste. Why on earth are we paying for both the building and a national air-bridge to support it? Has the Reserve Bank never heard of Zoom?”

“Most government agencies have tightened their travel spending, but the Reserve Bank seems to have gone the other way. Running what looks more like a frequent-flyer programme than a central bank.”

“The Bank is now under new leadership. Governor Breman needs to cut the spending her predecessor was all too comfortable signing off.”