Chlöe Swarbrick: Treasury should front committee on housing forecast

Author
Newstalk ZB,
Publish Date
Thu, 8 Jul 2021, 7:59AM
Green Party Housing Spokesperson Chloe Swarbrick. (Photo / NZ Herald)
Green Party Housing Spokesperson Chloe Swarbrick. (Photo / NZ Herald)

Chlöe Swarbrick: Treasury should front committee on housing forecast

Author
Newstalk ZB,
Publish Date
Thu, 8 Jul 2021, 7:59AM

A dramatic halt in house-price growth forecast by Treasury, the Government's chief economic adviser, was based on "judgment" rather than a firm economic model, and was not subject to Treasury's quality control process.

Green MP Green MP Chlöe Swarbrick said Treasury's explanation of its modelling was "blatantly opaque, offering no meaningful information and insight". She wants officials hauled before the committee in person to explain how it works.

National's housing spokeswoman Nicola Willis has joined forces with Swarbrick in calling for an in-person explanation, saying Treasury's answers to written questions on how it calculates house price increases "create more questions than they answer".

Treasury informed MPs on Parliament's Finance and Expenditure Committee this week that its house price forecasts were based on "a degree of judgment", rather than a stand-alone economic model.

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