Shadow treasurer Angus Taylor has claimed the proposed reforms to the Reserve Bank of Australia (RBA) will take the country back to the 'bad old days' when the government dictated interest rates, as he doubled down on criticism of Treasurer Jim Chalmers.
Angus Taylor claims RBA reforms will take Australia back to 'bad old days', doubles down on criticism of Treasurer Jim Chalmers
Mr Chalmers commissioned a review into the operation of the RBA last year, arguing the rates-setting body was in need of modernisation and using recommendations from the final report to set out a series of structural reforms. Picture: NCA NewsWire/Nicholas Eagar "The government clearly doesn't share our commitment to an independent, credible, capable reserve bank," he claimed.
However, he maintained the principal reason for his opposition to the reforms remained the concern Labor was seeking to employ a"sack and stack" strategy, which he argued would take the nation back to the"bad old days" when Australia's rate-setting body was fully controlled by the government.and Elana Rubin to the board last year as evidence he was ignoring recommendations from the review on correct hiring procedures.
Iain Ross Angus Taylor Jim Chalmers Labor Greens Michele Bullock RBA Elana Rubin Inflation Albanese Government Reserve Bank Reforms Coalition Interest Rates
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
RBA interest rates: Inflation could become entrenched, former RBA research boss John Simon warnsThe central bank’s former top researcher, John Simon, says the decision not to raise rates further has not been adequately scrutinised by the board.
Read more »
‘Doctor of spin’: Angus Taylor his out at Jim Chalmers over RBA remarkShadow treasurer Angus Taylor has hit out at Jim Chalmers and demanded he take responsibility after the Treasurer blamed slow economic growth on the RBA’s rate hikes.
Read more »
Australians have ‘forgotten how bad’ high inflation can be, RBA Governor Michele Bullock says7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Reserve Bank of Australia: RBA board split not dead says Treasurer Jim ChalmersThe treasurer offers to shift all RBA board members onto a new interest rate-setting board, presenting a potential breakthrough in stalled Coalition negotiations.
Read more »
More people are seeking help as Australia's economy slows down, RBA governor acknowledgesRBA governor Michele Bullock says more people are seeking help from community organisations as the economy slows down, but the fight against inflation must be won.
Read more »
Australia news live: RBA governor to give speech amid growing calls to cut interest ratesFollow live
Read more »