The newly minted Turnbull Government’s treasurer, Scott Morrison says any changes to the cash rate by the Reserve Bank of Australia will be considered “operational matters” from now on.
The Australian economy grew just 0.2 percent in the last quarter, which might also be the last time such figures are published with the government poised to rush through new legislation that would make RBA staff subject to hefty jail-terms if they reveal anything about the economy.
Treasury officials have dismissed rumours the department is set to change its name to “Dollar Force” but The (un)Australian can confirm RBA Governor Glen Stevens has been asked to stand aside for a three-star general.
Senior Government insiders say Prime Minister Malcolm Turnbull is not in favour of the changes but agreed to them in order to secure the numbers in last week’s bloody leadership spill that saw Tony Abbott kicked out days before his second anniversary.
The opposition’s treasury spokesman Chris Bowen said, “This is the latest in a long line of things that Malcolm Turnbull is prepared to do to get the top job.”
However Labor is not expected to vote against the reforms.
Mr Morrison says a more militarized treasury department will help the government enforce its economic plan but has ruled out air strikes on welfare recipients without “a mandate from the people”.