The Taxpayers’ Union congratulates newly reappointed Reserve Bank Governor Adrian Orr on winning the prestigious “Lifetime Achievement Award For Excellence In Government Waste” at the Jonesies Awards Ceremony at Parliament this morning.

“Mr Orr’s feats of unparalleled waste hardly need introduction given Kiwi families are feeling the results of his actions acutely with inflation up at 30-year highs and a cost of living crisis making simply surviving that much more expensive,” Taxpayers’ Union Campaigns Manager Callum Purves says.

“Orr’s Large Scale Asset Purchase programme saw the Reserve Bank buy $53.5 billion of New Zealand Government Bonds on the secondary market – with estimated losses now totalling $4,354 per Kiwi household. The losses were not just foreseeable, Orr and Minister Grant Robertson were warned by Treasury but plowed ahead anyway.”

“Not withstanding rising inflation and reckless money printing, Governor Adrian Orr has demonstrated astounding creativity and dedication in his personal mission to spend Reserve Bank time and resources on his personal pet causes.”

“The Jonesie Awards for Government Waste recognise government waste, failure and ineptitude. What better description of the disastrous reign of Mr Orr over the Reserve Bank?”

“It takes a special kind of talent to lose money in an exercise of printing it, but that’s what Adrian Orr’s Large Scale Asset Purchase programme achieved.”

“And then there’s the cost of living crisis that resulted from Mr Orr allowing the Government to borrow money cheaply through the pandemic. He hasn’t just taxed the current generation, he’s burdened our kids and grandkids too.”

“We congratulate Mr Orr for winning this prestigious award; the cherry on top of a great week which saw him reappointed to the job he’s failed at. Mr Orr describes himself as Tāne Mahuta. He sure is the Tāne Mahuta of Government waste.”

The Jonesies will be held in Parliament at 11am in the Beehive Banquet Hall where in addition to Mr Orr’s award, the winners of local and central government waste will be announced. Mr Orr has been invited to speak at the ceremony.

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