Parliament

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

 

Greenspan for RBNZ

Jim Anderton MP Thu Sep 9 1999

Jim Anderton
MP The job of running our Reserve Bank should be offered to the Chairman of the US Federal Reserve, Alan Greenspan, says the Alliance leader Jim Anderton.

He says Alan Greenspan is regarded as the world's best central banker - but he is paid half as much as New Zealand's Reserve Bank Governor, Don Brash.

'Alan Greenspan is paid US$136,700 (NZ$270,000) a year. His supervision of monetary policy has seen the US economy power ahead with record sustained growth and he has dropped the idea that a country needs to maintain 6% unemployment in order to keep inflation low. He uses a wide range of monetary policy instruments, and successfully targets multiple monetary policy objectives.

'Don Brash is paid $485,000 a year. New Zealand's monetary policy has kept interest rates and our exchange rate higher than they need to be, blown out our overseas deficit, crucified our productive sector and destroyed tens of thousands of jobs. Dr Brash, however, claims success in introducing competition in domestic airlines.

'It is beyond me why we need to pay Mr Brash nearly half a million dollars a year to run the central bank of New Zealand, when his American counterpart runs the entire US monetary system for half the salary.

'We should offer Alan Greenspan a raise and bring him here.

'We would save the taxpayer a quarter of a million dollars a year in salary payments alone. Taking into account Alan Greenspan's extraordinarily successful record, we would be getting a bargain.'

Jim Anderton quipped that he might raise it over dinner with Bill Clinton when the US President arrives in the Alliance leader's Wigram electorate next week.

'I might tell him to give Alan Greenspan a raise or we'll hire him to come and run our Reserve Bank.'

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Tourism’s Endless Sense Of Grievance

Sad that a once in a century pandemic should have come along before the government had a clearly thought out plan for rescuing all the firms and saving all the jobs in the tourism sector. Sad that the government now looks like it was making up the criteria for support as it went along. But guess what? To some extent, they were. Possibly because in the modern era, a pandemic had never before caused international travel to evaporate almost overnight... More>>

 

PREFU: Economy Doing Better Than Forecast

The Pre-election Economic and Fiscal Update released today shows that the near-term economic recovery has been stronger than the Treasury and many economists predicted at the May Budget, as the economy bounced back strongly out of lockdown... More>>

ALSO:


PM Statement: Cabinet COVID-19 Alert Level Review

Takiri mai te ata, ka ao, ka ao, ka awatea, tihei mauriora! Tātou katoa ngā iwi o Aotearoa, tēnā koutou! Tēnā tātou e whakanuia ana i te wiki nei, te wiki o te reo Māori Greeting to you all from Otepoti, Dunedin. This week is the Māori ... More>>

ALSO:

Greens: $297m Fund To Support Sustainable Food And Farming

The Green Party has released its Farming for the Future Plan, including a $297m fund to support farmers and growers to transition to climate-friendly practices. The plan will: · Improve how we look after our land and water, with a levy on the ... More>>

ALSO:

National: Plan To Restore NZ’s Prosperity

National’s Economic and Fiscal Plan carefully balances the need to invest in infrastructure and core public services while also reducing tax pressure on Kiwi families and businesses. National Leader Judith Collins and Finance spokesperson Paul Goldsmith unveiled National’s ... More>>

ALSO:

NZ First: Party List

New Zealand First has a proven twenty-seven-year history of bringing balance and common sense to our government. Amid the continued setbacks of COVID-19 restrictions, New Zealand First has once again sustained its profile by selecting a strong team ... More>>

Election: Arriving Travellers In Isolation To Be Able To Vote By Telephone

Up to 5,000 people in managed isolation or quarantine will be able to vote by telephone in the general election and referendums after an amendment to electoral regulations last week. Chief Electoral Officer Alicia Wright says the Electoral Commission sought ... More>>

National: Investing In Our Children’s Future

A National Government will prioritise lifting achievement for all New Zealand children, no matter their background or ability, National Party Leader Judith Collins and National’s Education spokesperson Nicola Willis say. “Parents just want what’s best for ... More>>

Police: Numerous Arrests Following Investigation Into Historical Offending At Auckland School

Detective Senior Sergeant Geoff Baber, Auckland City Police: Police have made six arrests as part of an operation investigating historical offending at Dilworth School. Auckland City Criminal Investigation Branch have been investigating since a complaint ... More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels