The Taxpayers’ Union is calling on MPs to reject Adrian Orr’s crocodile tears and claims he needs a increase in budget to cover exploding staff costs at the Reserve Bank.

Responding to Mr Orr’s comments before the Finance and Expenditure Select Committee today, Taxpayers’ Union Spokesman Jordan Williams said: “The Reserve Bank's wage costs are out of control, costing taxpayers 16% more than just 12 months ago. If the Bank is wondering why it’s short of money, it should look in the mirror.”

“It’s not like the Bank is focused at its core business. Instead Mr Orr has launched into bizarre projects such as culturally appropriating tikanga Māori to brand the Bank as ‘Tāne Mahuta’. According to research done by the NZ Initiative, the Bank is ranked the worst performing regulator. It’s difficult to imagine more money will force the bank to focus on what is important.”

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