Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


More corporate extravagance in the public sector

Fri Oct 8 1999

The Reserve Bank is paying 31 staff more than $100,000 each and its travel budget blew-out by $118,000 over last year.

In addition the Reserve Bank maintains an art collection valued at $767,000.Alliance leader Jim Anderton is accusing the Reserve Bank of private sector-style corporate extravagance with taxpayers' money.

'The Reserve Bank's obsession with price stability doesn't seem to apply to its own accounts,' Jim Anderton said.The Reserve Bank annual report reveals that Governor Don Brash was the top paid employee, with a salary of $460,000 in the last financial year.

That compares to a salary of NZ$270,000 paid to his US counterpart, Federal Reserve chairman Alan Greenspan.Five other Reserve Bank employees were paid salaries of more than $200,000.The Reserve Bank spent $667,000 on travel last year, up from $549,000 the year before and $35,000 more than was budgeted.

'If the rest of the country increased travel spending by 21%, the Reserve Bank would crank interest rates up to squeeze out the inflationary pressure,' Jim Anderton said.

'There seems to be one rule for the Reserve Bank and a different rule for the rest of the country.

'The Alliance leader is questioning the need for the Reserve Bank to maintain a lavish $767,000 art collection.

'New Zealand's best art should be hanging in public spaces, not restricted to the boardrooms of the central bank,' Jim Anderton commented.

Visit http://www.alliance.org.nz for more information about the Alliance


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news