Swan reports legitimate concern on RBA governor's $1m stipend
After becoming the nation’s first $1 million public servant, Reserve Bank governor Glenn Stevens is now drawing lawful apprehensions from the public on why he is being paid so much more.
Treasurer Wayne Swan said in an interview that he would like to see such salary arrangements more in line with community expectations and the government was considering the matter.
"I think there would be lawful public concern about the salary of the Reserve Bank governor. It is a matter that has been there for the Reserve Bank board, which is independent of the government, to consider, “Swan furthered.
Moreover, the salary raise seem to course through to other government officials in Treasury and the Department of Prime Minister.
The interim tribunal accounted a year ago that Stevens’ compensation could set a standard for other public officials, especially the Prime Minister and the head of the Treasury, who are earning just half of the governor’s salary.
According to the annual report of the Reserve Bank, Governor Stevens’s compensation jumped 80 per cent over the last five years with deputy governor Ric Batellino’s salary leap of 86 percent.
Stevens and Batellino receive $1.05 million and $800,000, respectively.