From the Australian today...Bank chief's Amex spree03 February...

From the Australian today...

Bank chief's Amex spree
03 February 2004

THE public servant who will decide today whether to inflict more interest rate pain on homebuyers has spent $249,265 on his taxpayer-funded credit card over the past two years.


American Express statements obtained by The Daily Telegraph show Reserve Bank Governor Ian Macfarlane spends on travel and hotels, sometimes taking wife Barbara with him.

There are also some curious extras, such as $300 and $500 purchases of "books and stationery" at Glebe's Cornstalk Bookshop and $213 on "sporting goods" at Riverside Oaks golf club in July, 2001.

Lunch at Cafe Sydney on March 23, 2002 cost $489, including a $40 tip. On another occasion, July 7, 2002, food and beverages at the plush Forty-One Restaurant came to $309, including a $30 tip.

Some items on the statements - obtained following a Freedom of Information request - were deleted by the Reserve Bank citing "unreasonable disclosure" of Mr Macfarlane's personal affairs.

An entire month - January, 2003 - was not provided, with the vague explanation that the statement "cannot be found or does not exist".

In the 27 months, Mr Macfarlane travelled internationally 17 times, three times with his wife.

He averaged spending of $9260 a month on his card between July, 2001 and October, 2003.

His use of his Amex Card over the 27-month period generated 264,000 in Membership Reward Points. In July, 2001 589,417 points were cashed in - enough for five return economy airfares to London.

Reserve Bank Secretary David Emanuel said all travel was in accordance with public service guidelines, including first class seats on international flights.

He said Membership Reward Points were always cashed in towards travel or services used by the Reserve Bank and he defended Mrs Macfarlane's presence on some of his overseas trips at public expense.

Charging it to plastic * Between July 2001 and October 2003, Ian Macfarlane averaged $9200 a month on his American Express credit card

* Most went on 17 first-class international trips, including three with his wife

* Destinations included Zurich up to six times, Toronto, Hong Kong and New York twice, Mexico, India and Thailand

* His most expensive overseas excursion was in September 2002 when he and his wife spent $29,997 on flights to New York and Toronto and $4772 on hotels

* He made two donations totalling $1220 to the Reuters Charity Foundation