Quigley has no option but to go: Reserve Bank Chair misled public and undermined trust

The Taxpayers’ Union is calling for the resignation of Reserve Bank Chair Neil Quigley, saying his position is now untenable following revelations in the last 24 hours that he misled the public over Adrian Orr’s departure as Governor.

Taxpayers’ Union Executive Director Jordan Williams said:

"This has gone beyond questions about the credibility of the Reserve Bank. It’s now a matter of honesty. Neil Quigley told New Zealanders that Adrian Orr’s departure was purely a personal decision. It now looks clear that was false - it was a negotiated exit in the context of appear to be serious allegations. Dr Quigley knew full well there was a catalogue of behavioural concerns, including some raised by the Minister of Finance, and yet he chose to hide that truth in false statements to the media."

”Documents now show that Quigley was involved in drafting a formal ‘Statement of Concerns’ about the Governor's conduct in late February. Despite this, he continued to brief the media and public in a manner that appear designed to mislead, saying it was “just a personal decision” by Mr Orr to resign.

“Employment law may justify some discretion in what can be disclosed publicly, but it can never justify dishonesty. Dr Quigley appears to have knowingly misled both the media and Parliament. That’s indefensible,” said Williams.

“And the Bank’s hiding behind ‘privacy’ in the context of this matter relating to one of the most important public offices in New Zealand is totally self-serving. Public interest clearly trumps the private interest concerns. And Quigley’s public comments that suggest OIA responses are being prepared by the bank on the basis of what the Dr Quigley “feel[s] the public needed to know” demonstrates a contempt for freedom of information law.

The Taxpayers’ Union says that this mess is also a test for the Public Service Commissioner.

"This goes to the heart of integrity in the public sector and holding public office holders and chairs of public boards to a standard of basic honesty and transparency. If those responsibilities are to mean anything, then it must apply here. Labour should be holding the Minister out to dry.”

“Mr Quigley has failed the most basic test of public leadership: telling the truth. His continued presence at the helm of the Reserve Bank Board undermines public trust. He must resign – or be removed by the Minister.”