Vaccine won't be a magical cure for NZ economy - Treasury

Wed, 18 Nov 2020

Treasury Secretary Caralee McLiesh says the prospect of a covid-19 vaccine will not be a cure for surging government debt or have an impact on the Treasury’s current forecasting.McLiesh injected a dose of economic reality into today’s 'ReBuilding Nations' infrastructure symposium in Auckland, telling delegates that while a vaccine showed a potential ‘way out’ of the pandemic, it didn’t change the reality that NZ had experienced its sharpest economic contraction on record.The 12.2 percent fall in gross domes...

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