An economist says the Government did the best it could in the early stages of the Covid-19 pandemic.  

The Treasury's latest report calculates the total cost of the Covid-19 pandemic at $66 billion.  

The Government ignored official advice at the time to ease spending.  

New Zealand Initiative Chief Economist Eric Crampton told Mike Hosking it is hard to fault anyone up until late 2020.  

He says, afterwards, the Government failed to come up with solutions outside lockdowns and wage subsidies.  

Treasury is now suggesting the Government establish an independent fiscal institution for better scrutiny.  

Crampton says Treasury isn't in a position where it can effectively challenge the Finance Minister's decisions.  

He says the public currently can't rely on Treasury for clear warnings when things are going wrong, which is needed for democratic accountability. 

LISTEN ABOVE 

An economist says the Government did the best it could in the early stages of the Covid-19 pandemic. &nbsp;
The Treasury's latest report calculates the total cost of the Covid-19 pandemic at $66 billion. &nbsp;
The Government ignored official advice at the time to ease spending. &nbsp;
New Zealand Initiative Chief Economist Eric Crampton told Mike Hosking it is hard to fault anyone up until late 2020. &nbsp;
He says, afterwards, the Government failed to come up with solutions outside lockdowns and wage subsidies. &nbsp;
Treasury is now suggesting the Government establish an independent fiscal institution for better scrutiny. &nbsp;
Crampton says Treasury isn't in a position where it can effectively challenge the Finance Minister's decisions. &nbsp;
He says the public currently can't rely on Treasury for clear warnings when things are going wrong, which is needed for democratic accountability.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

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Eric Crampton: NZ Initiative Chief Economist on the Treasury report revealing the cost of the Covid-19 pandemic to be $66 billion

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/22c04377-3f7b-4b26-bcf4-b332015237d3/transcript