RNZ’s unlawful borrowing: directors who approved it must go

The Taxpayers’ Union is calling for the resignation of the RNZ directors who were on the board when it approved an unlawful $5 million overdraft.

Taxpayers’ Union spokesperson Tory Relf said:

“Current chair Brent Impey signed off this unlawful borrowing. He needs to explain how he and his fellow directors approved a $5 million overdraft without obtaining the ministerial approval required by RNZ’s own borrowing policy.

“Did nobody read the policy? Did nobody ask whether the borrowing was lawful? These are basic checks taxpayers should expect any competent board to make. This is breathtakingly slack governance.

“The directors who were on the board when this unlawful borrowing was approved need to go. Ministers must ensure the independent investigation is overseen by people who had no part in these failures, with its findings published in full.”