Former Australia Post CEO Christine Holgate (Image: AAP/Brendan Esposito)

Not since Hockey and Cormann toasted an austerity budget with two fat Cuban cigars has a symbol of elite aloofness been so universally reviled as Australia Post CEO Christine Holgate gifting four employees Cartier watches worth a combined $19,500 to reward their performance on a banking deal. Right before the AFL Grand Final, she served up a loathsome barbecue stopper.

Holgate is not the only government agency head in hot water for wasteful extravagance. ASIC boss James Shipton recently stepped aside over taxpayers footing the bill for the handling of his tax affairs.

NBN Co and Snowy Hydro have also recently doled out multi-million dollar executive bonuses “in order to remain competitive and attract and retain critical talent”.