Greedflation infests Australia’s public service


Last month, the RBA annual report revealed that the two top executives of the Bank received a pay rises of more than 10%:

“During his final year as governor, Philip Lowe took home $1,147,465 in base pay, bonuses, superannuation and other payments. That sum was about 10.5% higher than a year earlier…”

“Michele Bullock, who was deputy governor prior to her promotion to the top role last month, earned remuneration totalling $828,313. That sum was almost 12% more than in the previous year when Bullock was an assistant governor for part of the period”.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.