RBA Pay Power Should Shift to Outside Panel, Gillard Ally Says
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Australia’s central bank should cede control of senior officials’ pay, a member of Prime Minister Julia Gillard’s ruling coalition said, intensifying a debate over Governor Glenn Stevens’s A$1.05 million ($1.1 million) package.
Bob Brown, whose Greens party allows Gillard to stay in office and will hold the balance of power in the Senate starting in July, said the pay of top Reserve Bank executives needs to be set by the same panel that decides compensation for judges and other officials.