What is wellbeing?
Wellbeing is when people lead fulfilling lives with purpose, balance and meaning to them. Giving more New Zealanders the capability to improve their wellbeing requires tackling the long-term challenges we face as a country, like the mental health crisis and breaking the cycle of child poverty and domestic violence. It means improving the state of our environment, the strength of our communities and the performance of our economy.
Making the best choices for current and future generations requires looking beyond economic growth and considering social, environmental, and economic implications together. The Wellbeing Budget does this in three ways:
- Breaking down agency silos and working across government to assess, develop and implement policies that improve wellbeing
- Focusing on outcomes that meet the needs of present generations at the same time as thinking about the long-term impacts for future generations, and
- Tracking our progress with broader measures of success, including the health of our finances, natural resources, people and communities.
The Wellbeing Budget Package focuses on the five priorities announced in the Budget Policy Statement, as well as funding to maintain public services at the level New Zealanders expect. These priorities were identified using collaborative and evidence-based processes, involving Science Advisors and the Treasury’s Living Standards Framework. The five priorities are:
- Supporting mental wellbeing for all New Zealanders, with a special focus on under 24-year-olds
- Reducing child poverty and improving child wellbeing, including addressing family violence
- Lifting Māori and Pacific incomes, skills and opportunities
- Supporting a thriving nation in the digital age through innovation, social and economic opportunities, and
- Creating opportunities for productive businesses, regions, iwi and others to transition to a sustainable and low-emissions economy.