OPINION:Treasury has delivered the Government an early Christmas present, portraying a relatively rosy picture for the New Zealand economy, with smaller deficits, lower unemployment and stronger growth for years to come. The best news for Finance Minister Grant Robertson is likely to be expectations for unemployment. House price growth 'robust'For those hoping Covid may provide relief from climbing house prices, Treasury offers no encouragement. At the time of May's Budget and at the pre-election update, house prices were forecast to show at least a small drop, as migration dropped close to zero and unemployment rose. Robertson - presumably knowing the Treasury forecasts were likely to fall this way - has already asked Treasury to come up with advice on how to deal with the rising political issue.

Source: New Zealand Herald December 16, 2020 00:20 UTC