Budget 2020's response to Covid -19
Last Friday, I was invited to appear before Parliament’s Epidemic Response Committee on Tuesday 19 May. The topic was Budget 2020. Read more
Bryce is a Senior Fellow at The New Zealand Initiative and the Director of the Wellington-based economic consultancy firm Capital Economics.
Prior to setting up his consultancy in 1997, he was director, and shareholder in First NZ Capital. Before moving into investment banking in 1985, he worked in the New Zealand Treasury, reaching the position of Director.
Bryce holds a PhD in Economics from the University of Canterbury and was a Harkness Fellow at Harvard University. He is a Fellow of the Law and Economics Association of New Zealand.
Phone: +64 4 499 0790
Last Friday, I was invited to appear before Parliament’s Epidemic Response Committee on Tuesday 19 May. The topic was Budget 2020. Read more
As the country looks for ways to recover from the Covid-19 recession, the government is tweaking a few rules to help it along. One of its actions was to amend the Overseas Investment Act, or OIA. Read more
Our Senior Fellow Dr Bryce Wilkinson presented to the Epidemic Response Committee on 19 May 2020. He shared his thoughts on Budget 2020 and the impact of Covid-19 on the economy. Read more
Read our submission, written by Dr Bryce Wilkinson, to the Finance and Expenditure Committee. In summary: On 14 May, the Government introduced an Overseas Investment (Urgent Measures) Amendment Bill to the House and held its first reading on the same day. Read more
On 14 May, the Government introduced an Overseas Investment (Urgent Measures) Amendment Bill to the House and held its first reading on the same day. It had such little regard for public consultation the deadline for submissions was set for 4 pm on Monday, 18 May – giving submitters only two full working days. Read more
Hardly anyone has questioned the merits of the Government spending taxpayer money in response to Covid-19, or examined its implications for public debt levels and future tax burdens. Next week’s Budget 2020 will reveal those fiscal implications. Read more
The Covid-19 pandemic and economic lockdown means many countries are looking inwards. But global cooperation will be an important lever out of the economic and social consequences of the virus. Read more
Last Wednesday, The New Zealand Initiative published a 13-page research report explaining why reliance on central bank credit to fund fiscal deficits is not a free lunch and it is economically dangerous to claim otherwise. The New Zealand Social Credit Association subsequently placed a full-page advertisement in the weekend’s Herald espousing the opposite position. Read more
Bryce Wilkinson discusses the findings in his report Quantifying the wellbeing costs of Covid-19 in the Business Daily Programme on BBC World Service. Read more
Senior Fellow Bryce Wilkinson highlights in a new report some concerning ideas from both the government and the Reserve Bank about expanding the money supply to help pull New Zealand out of the Covid-19 economic crisis. He discusses his research and findings on TVNZ Breakfast. Read more
The New Zealand Initiative supports government deficit spending during the Covid-19 crisis on the basis that it is funded by conventional borrowing. This report explains why funding deficits by central bank credit creation with no credible timetable for reversing the situation is a route to financial disaster. Read more
In deciding whether to extend the current lockdown, the government must balance the likely benefits of reduced sickness and deaths against the cost of lost national income and jobs. To do so systematically requires an analytical framework that organises the available information. Read more
If New Zealand can’t recover from the economic “heart attack” of self-imposed lockdown, it could face GDP losses at Great Depression levels, according to a New Zealand Initiative research note. While the Covid-19 pandemic has not ruined New Zealand’s economic capabilities, the lockdown has forced the country into an unprecedented productivity pause which the Initiative’s senior fellow Bryce Wilkinson says could slice away about $10,000 per household this year. Read more
Our chief editor Nathan Smith is joined by chief economist Dr Eric Crampton and senior fellow Dr Bryce Wilkinson. In this week’s podcast, they discuss whether the Government’s Covid-19 cost-benefit analysis and subsequent lockdown is economically sound. Read more
No one doubts the economic costs of lost jobs and income from Covid-19 will be substantial in the short run. But what can we know about the likely magnitude of those costs? Read more