The Government in New Zealand is so committed to putting wellbeing and the environment at the heart of its policies, that it will now report against a wider set of wellbeing indicators in future Budgets.
Budget 2019: The Wellbeing Budget aims to broaden the Budget’s focus beyond economic and fiscal policy by using the Treasury’s Living Standards Framework to inform the Government’s investment priorities and funding decisions.
From now on, its Government will “…measure and report against a broader set of indicators to show a more rounded measure of success, as a country and as a Government.” The New Zealand Government believes this will be supported by Budget processes that facilitate evidence-based decisions and deliver the Government’s objectives in a cost-effective way.
Our Wellbeing Budget represents an important step towards embedding wellbeing in New Zealand’s public policy.
Details of the Wellbeing Budget will be announced later in the year, and detailed in the Government’s Budget Policy Statement for 2019.
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