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‘An exhorbitant sum’: Reserve Bank spends $6 million on new web site

“The Reserve Bank of New Zealand (RBNZ) has strayed so far from its purpose that it’s now spending millions of taxpayers’ dollars on a new website amidst a cost of living crisis,” says ACT Leader David Seymour.

“Written Parliamentary Questions from ACT have revealed more than $6 million was spent on creating a new website for the Reserve Bank.

“With inflation at a 32-year high and the Governor himself having to hike interest rates to 3 per cent, thanks in part to a government spending spree, it seems unbelievable he would sign off on such an exorbitant sum to develop a new website.

“As if we needed another reason for the RBNZ to get back to basics and focus solely on monetary policy. In the middle of a cost of living crisis Adrian Orr thinks it is appropriate to spend millions on new websites. If it were not so serious, it would be quite amusing.

“With inflation piling pressure on Kiwis from all angles, we cannot afford this kind of wasteful spending. He should know this better than anyone.

“As released in our cost of living document, ACT says we need to get the Reserve Bank back on track and solely focussed on real targets.

“ACT would restore monetary policy credibility to the Reserve Bank by returning its mandate to solely taming inflation, allowing the appointment of monetary policy experts from New Zealand and abroad, and applying stricter scrutiny in future before granting Crown indemnities.

“Reserve Bank Governor Adrian Orr has long said that “monetary policy needs friends.” He should take his own advice and restrain his department from carrying out such wasteful spending.”

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5 COMMENTS

  1. Agent Jabcinda has to pay the dues for the Big Tech, particularly California based, in order to be appreciated by her masters. NZ government keeps most of the data in servers owned by the US big Tech. They deliberately ignore the local providers; even their own propaganda machine slipped the article below:

    https://www.rnz.co.nz/news/business/472643/new-zealand-cloud-provider-challenges-google-s-claims-on-data-control-for-region

    Amazon, Google, Cloudfare. Microsoft, Akamai etc arer pampered by us even though US government can direct anyone these companies to share the data (with CIA of course) by law. It is not just the Chinese and the Americans do the same.

    Big Tech provides censoring, implicit political support to the political leaders aka agents here. It is all legal and nobody reads the fine print when they sign up in any way. 🙂

    • This was warned against many years ago but of course fell of the ears of the deaf, the eyes of the blind also do not see.

  2. Adrian Orr is the WORST reserve bank governor ever. He is obviously just a puppet.

    These people are out of control.

    There should be some kind of investigation into the excesses of money wasted by these overpuffed bureaucrats eating out of the trough.

    ????????????????????

  3. What else could we expect from such institutions, like the PRIVATELY-owned U.S. Federal Reserve bank, a Rothschild entity?
    But, the ratepayers / taxpayers foot the bill…as usual!
    ALL ‘Reserve banks’ need to be dissolved, and the nation’s currency and money management returned to their respective Treasuries, with the same backed by gold, silver, platinum and diamonds.

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