Some issues are too important to be left to governments and politics.
Three times in my life I have felt this to be the case, and advocated that responsibility for them be passed to an independent authority, and process.
The first was back in 1980, when I advocated an independent Reserve Bank, an initiative that grew out of my frustration from sitting as an adviser on the monetary policy committee of cabinet on the Fraser government, watching ministers struggle to set interest rates and our exchange rate – prices that were clearly too important to be left to politicians. The system and its management needed to be depoliticised – in this case, market-based and independently supervised.
Read the comment in today’s Melbourne Age by John Hewson - “We can't leave climate policy to our short-sighted politicians.”