Richard Marles (Corio, Australian Labor Party) Share this | Hansard source

This will place the appointment of the Reserve Bank governor and deputy governor in the hands of the Governor-General acting in council, and any suspension or termination of the Reserve Bank governor or deputy governor can only occur if the Governor-General, acting in council, then refers it to the parliament. Such a removal, if it ultimately occurred, would only occur if there is an agreement by both houses of this parliament acting in the same session. In doing that, it raises the position of the Deputy Governor and Governor of the Reserve Bank to the same level of statutory independence as the Commissioner of Taxation and the Australian Statistician. That can only help enhance the independence of the Reserve Bank. (Time expired)

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