One Nation Proposes Expanded Role for Reserve Bank of Australia

One Nation treasury spokesman Barnaby Joyce said the party would review the Reserve Bank of Australia’s operations and scope as a top priority. He argued the central bank should advise the government on spending and regulation to reduce inflation. ” He proposed the bank publish advice on government spending and regulations that increase costs.

Joyce said the RBA should give the government a target amount of money to put into the economy. He said the bank could also issue directives on reducing regulation and spending, even if the government did not follow them. He compared the proposed role to that of the Productivity Commission and cited construction, planning, cigarette excise, and energy market rules as areas where regulation adds to inflation.

Joyce said One Nation is still developing its economic policy and has not yet become credible on economics. He said the government was deliberately limiting the party’s staff resources. Joyce said he would publish a book before Christmas that examines whether the rise of populist parties reflects a broader decline in traditional politics.