RBNZ Board should be sacked for approving $416k golden goodbye for Adrian Orr and claiming he 'quit'

The Taxpayers' Union is calling on Finance Minister Nicola Willis to justify why a $416k golden parachute was approved to disgraced governor Adrian Orr, and whether she knew about the proposal before it was agreed to by the RBNZ Board. If she didn't, she should sack the Board members who approved it.

"Heads should roll over this – it's a $416,120 reward for failure," said Jordan Williams of the Taxpayers' Union.

"Calling it a 'restraint of trade' payment is yet another dishonest ruse from the Reserve Bank. It's gaslighting taxpayers."

"Just what were they worried about? Orr is so disgraced that the only Reserve Bank he could take over is in the third world. Heck, we should have been paying others to take him away!"

"Similarly, the idea a commercial bank would touch Orr is ridiculous. It was the commercial banks quietly telling people about Orr's outrageous behaviour in yelling at executives."

"I have never heard of a 'restraint of trade' in the public service. It's a golden parachute."

"Adrian Orr is an ill-tempered bully whose actions lost taxpayers literally billions of dollars.  Yet again, the Reserve Bank's Board have let taxpayers down."

"The Taxpayers' Union has long argued that we need a law to stop those in the public sector paid more than a Member of Parliament from receiving golden handshakes. This is case in point why."