Next year we will be the first nation in the world to deliver a Wellbeing Budget reporting our annual progress against a range of measures that highlight the health and well-being of our people, our environment and our communities. We will use the Living Standards Framework developed by the New Zealand Treasury to help develop our Budget, and to measure our success.
The Budget papers contain no further details on this proposal. Consequently there is no information on the Treasury’s Living Standards Framework in the Budget material. How the Framework addresses the subjective concept of “well being” awaits elaboration.