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Labor MPs block RBA chief from grilling

Labor MPs have stopped the Reserve Bank boss from appearing before a parliamentary committee to answer questions about banknote printing firm Securency.

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Source: AAP


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Labor MPs have stopped Reserve Bank of Australia (RBA) governor Glenn Stevens from appearing before a parliamentary committee to answer allegations senior officials covered up corruption.

Officials at Securency International, a banknote printing firm half-owned by the RBA, have allegedly paid secret kickbacks to foreign officials to secure contracts.

Fairfax Media reports that Labor MPs on the House of Representatives economics committee stopped an opposition motion to have Mr Stevens and his deputy Ric Battellino answer questions in November.

Coalition MPs reportedly wanted to ask Mr Stevens about revelations that some of the RBA's most senior officials suppressed damaging information in 2007 and 2008 about the payment of secret commissions to middlemen hired by Securency and Note Printing Australia.

In September, both major parties voted against a motion by Greens lower house MP Adam Bandt calling on the federal government to establish an independent inquiry, with the powers of a royal commission, into the matter.


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