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Speaker 1: Questions for you around the Reserve Bank and their funding. Firstly,

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Speaker 1: are the Finance Minister to be congratulated on her handling

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Speaker 1: of the fiscal matters and reducing the expenditure by twenty

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Speaker 1: five percent? I mean this is a Doge like achievement.

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Speaker 1: In fact, have you been following Doge what they said

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Speaker 1: they would do? This is what they have done. Is

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Speaker 1: like a lot of the Trump output so far mainly

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Speaker 1: hot air, So in fact Willis leaves them somewhat in

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Speaker 1: her dust. Then came the revelation from cabinet papers that

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Speaker 1: a lot of the extra money the Reserve Bank got

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Speaker 1: hadn't actually been spent. This is possibly referred to as

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Speaker 1: waste and was a good insight into how Adriene and

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Speaker 1: Grant ran the place. But despite the fact it hadn't

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Speaker 1: been spent, all of a sudden, just before Nikola came along,

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Speaker 1: it did get spent budgeted in areas like people in

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Speaker 1: tech and info and data spending like drunks. So clearly

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Speaker 1: Willis has seen their scam, called their bluff and got

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Speaker 1: her way. Good on her. But the bigger question is this,

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Speaker 1: with all that money, tens of millions of dollars a year,

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Speaker 1: were they any good? Did that money buy good results?

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Speaker 1: Were good people doing good work? Well? History shows as

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Speaker 1: obviously the answers no COVID responsor is now widely seen

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Speaker 1: as anept our, three recessions, the artworking of a complete

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Speaker 1: and utter cock up when it came to handling a

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Speaker 1: financial crisis. We have smaller issues still play, of course,

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Speaker 1: like the reserves for the commercial banks and outworking of

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Speaker 1: the Adrian or paranoia. And for all that money, we

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Speaker 1: seem to employed a central bank that did worse than

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Speaker 1: most to this day Treasury and this might be on Treasury,

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Speaker 1: not the RB, but Treasury cannot work out the value

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Speaker 1: of all that money flooding into the economy. What did

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Speaker 1: it do? Was it good value? If they can't work

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Speaker 1: it out, did the RB know going in or were

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Speaker 1: they panicked? And were they flying blind? Why did they

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Speaker 1: give that free money to the banks with no restrictions

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Speaker 1: on what happened to it next? These remain the unanswered questions,

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Speaker 1: of course, years on the artworkings of which we economically

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Speaker 1: are still paying for. So the twenty five percent cut

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Speaker 1: is one story. The other is what we got for

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Speaker 1: our investment. How would you describe a return that bad

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Speaker 1: and given it went to the inept is twenty five

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Speaker 1: percent even enough For more from the Mic Asking Breakfast

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Speaker 1: Listen live to News Talks at B from six am weekdays,

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