Former Reserve Bank Governor Adrian Orr is in for a significant payday.

He resigned in March, following a funding disagreement, with tensions between Treasury, the bank, and the Finance Minister.

The central bank's annual report shows Orr will receive a $416,000 restraint of trade payment this month.

Finance Minister Nicola Willis says she wasn't informed of this until today.

"I had been assured that they had done those negotiations in accordance with the terms and conditions in his contract, which had already been agreed when he was reappointed as Governor in 2022."

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Former Reserve Bank Governor Adrian Orr is in for a significant payday.
He resigned in March, following a funding disagreement, with tensions between Treasury, the bank, and the Finance Minister.
The central bank's annual report shows Orr will receive a $416,000 restraint of trade payment this month.
Finance Minister Nicola Willis says she wasn't informed of this until today.
"I had been assured that they had done those negotiations in accordance with the terms and conditions in his contract, which had already been agreed when he was reappointed as Governor in 2022."
LISTEN ABOVE

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Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Nicola Willis: Finance Minister on Adrian Orr getting $416,000 after quitting Reserve Bank

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e5f95145-f05e-4dd3-9e68-b36e006dc943/transcript