The Opposition will not support Steven Kennedy or Jenny Wilkinson to replace Philip Lowe as RBA governor.
as governor of the Reserve Bank, arguing their independence has been compromised by working closely with Liberal and Labor finance ministers.
However, convention dictates that the position, which comes with a seven-year term, should have the unbridled support of both the government and the alternative government.In comments labelled “silly” by former RBA governor Bernie Fraser, and “offensive” by the government, Mr Dutton said on Thursday the Coalition would not support anybody who had worked with treasurers and finance ministers, Labor or Liberal, given there was always a political aspect to the role.
“We’ll support the government when they make the announcement, but not if it’s somebody who is tainted, or can be seen to be tainted – even if it’s somebody of a very high calibre and character – and whether it’s been somebody that’s worked closely with the Liberal or Labor government before. “Mr Dutton should respect that whoever is RBA governor at any given time will conduct themselves with all the rigour and independence that other governors have,” he said.
However, there is considerable support inside the Opposition to retain Dr Lowe in the belief it is irresponsible to change governors in the midst of a tightening cycle.“The Reserve Bank governor is just the messenger. He or she has to deal with the prevailing economic conditions and Philip Lowe has just been responding to the decisions made by the government,” he said.
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