Joyce’s crazy plan for the Reserve Bank would only make things worse

July 12, 2026 — 2:00pm

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Pauline Hanson has, for decades, railed against the nation’s - and the world’s - elites.

Politicians and the media and universities and business leaders who might have an interest in the environment have all been targeted for being out of touch with ordinary Australians.

In terms of elites, the Reserve Bank is absolutely at the tip of the spear. Its headquarters is in Martin Place, Sydney, just across from the NSW Parliament. If that’s not the centre of economic elitism in this country, you can certainly see it from there.

But according to Hanson’s treasury spokesman Barnaby Joyce, the Reserve should be able to pressure governments to reduce inflation by calling for spending cuts or reductions in “red tape”.

Saying the current government had made the Reserve Bank less independent, something that would come as a shock to governor Michele Bullock as well as Jim Chalmers and Anthony Albanese, Joyce said under One Nation there should be a review of the Reserve with some vague suggestion it would look at its inflation target.

Joyce may have forgotten the RBA........

© The Age