Only in taxpayer-funded Canberra could you help set up and run an institution that blows its budget by tens of billions of dollars and be rewarded with an estimated $1 million-plus new executive job.

Bill Shorten, an architect of and current minister for the National Disability Insurance Scheme, announced last week he will retire from politics to become vice chancellor of the University of Canberra. His predecessor was paid $1.8 million, although reportedly he will be paid less.