Our vision is focused on higher living standards for New Zealanders. Achieving this requires growing the country's human, social, natural, and financial/physical capitals which together represent New Zealand's economic capital.
The Treasury Living Standards Framework
The framework is developing as the evidence improves and we learn more about what is needed. This presentation explains the current version of the framework:
Living Standards Framework - Presentation
A Four Capitals approach
Papers on different aspects of the Living Standards Framework
- The Start of a Conversation on the Value of New Zealand's Financial/Physical Capital
- The Start of a Conversation on the Value of New Zealand’s Natural Capital
- The Start of a Conversation on the Value of New Zealand’s Social Capital
- The Start of a Conversation on the Value of New Zealand’s Human Capital
- Wellbeing Frameworks for the Treasury
- The Treasury Approach to the Living Standards Framework (Our LSF)
Stats NZ: Indicators Aotearoa New Zealand – Measuring our well-being
‘Indicators Aotearoa New Zealand’ is being developed, by Stats NZ, as a source of measures for New Zealand’s well-being. The set of indicators will go beyond economic measures, such as gross domestic product (GDP), to include well-being and sustainable development.
The indicators will be selected in collaboration with a wide range of stakeholders, including central and local government, NGOs, Te Ao Māori experts, academics, and technical advisory groups.
We are engaging with Māori including at the community level, and will be inviting a group of international experts to peer review our final list of indicators.
How to make a submission to Stats NZ
You can make a submission online between July and September by visiting our website: Indicators Aotearoa New Zealand – Ngā Tūtohu Aotearoa
If you would like to contact us please email email@example.com
History of the Living Standards Framework
Treasury has been at the forefront of making living standards analysis part of what governments do and our understanding has changed as we learned more.
If you are interested to read more about the earlier work that helped us develop our thinking for the LSF, you can view our History of the LSF here, but please note that it is no longer current.
The Treasury commissioned a series of papers by independent experts to support our work. These papers represent the work and thoughts of the authors and not those of the Treasury.
- Estimating financial cost of climate change in New Zealand – Professor David Frame
- Genuine Savings as a Test of New Zealand Weak Sustainability – Professor Les Oxley
- Capturing natural capital in decision making – NZIER
- What’s the use of non-use values? – NZIER
Proposal for a Living Standards Dashboard
Consultation on the proposal for a Living Standards Dashboard (written by independent wellbeing expert Conal Smith) is now closed.
The feedback we received is being considered as we make our decisions on what to include in the Living Standards Dashboard.
Treasury Living Standards Dashboard: Monitoring Intergenerational Wellbeing