Federal parliament has backed the Reserve Bank of Australia’s decision not to sell its asbestos-ridden 65 Martin Place headquarters, despite the cost of renovating the historic building blowing out fourfold to $1.1 billion.

The Australian Financial Review first revealed in June 2023 that the $260 million renovation of the RBA head office had blown out to $500 million due to the discovery of significant quantities of asbestos, four to five times worse than in a typical older building.