It is necessary to understand where principle and probity lie. With regard to the appointment and maintenance of Robert Gerard as a member of the Reserve Bank board, he resigned of his own volition. He resigned because, in his view, it had got too hot in the kitchen, not because, in the view of the government, his appointment was inappropriate.

This bill is about openness, it is about integrity, it is about transparency and it is about ensuring that we all have confidence in the RBA. I commend the bill to the chamber.