What is wellbeing?
Wellbeing is when people are able to lead fulfilling lives with purpose, balance and meaning to them. Giving more New Zealanders capabilities to enjoy good wellbeing requires tackling the long-term challenges we face as a country, like the mental health crisis, child poverty and domestic violence. It means improving the state of our environment, the strength of our communities and the performance of our economy.
Sustainable economic growth is an important contributor, but many factors determine people's wellbeing. Just because a country is doing well economically does not mean all of its people are. This has been the case for New Zealand. Too many people have been left behind or left out. The Wellbeing Budget endeavours to give more New Zealanders the ability to share in the benefits of a strong and growing economy.
We now know that we cannot meaningfully address complex problems like child poverty, inequality and climate change through traditional ways of working. Making the best choices for current and future generations requires looking beyond economic growth on its own 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
- Tracking our progress with broader measures of success, including the health of our finances, natural resources, people and communities.
Achieving such fundamental change will take time, but we are committed to making significant progress. The Wellbeing Budget marks the start of this process.