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Cabinet paper

Cabinet Paper CBC-19-SUB-0018: Embedding wellbeing in the Public Finance Act: Final policy recommendations

Issue date: 
Wednesday, 25 September 2019
Version note: 

Some parts of this information release would not be appropriate to release and, if requested, would be withheld under the Official Information Act 1982 (the Act). Where this is the case, the relevant sections of the Act that would apply have been identified. Where information has been withheld, no public interest has been identified that would outweigh the reasons for withholding it.

Document Date: 
Monday, 13 May 2019
Publication category: 

Accessible HTML version

Only the Proposal and Executive Summary sections of this Cabinet paper are extracted below in HTML.  If you require a full HTML version please contact information@treasury.govt.nz and cite CBC-19-SUB-0018 as a reference.

Cabinet Paper CBC-19-SUB-0018: Embedding Wellbeing in the Public Finance Act 1989: Final Policy Recommendations

Proposal

  1. This paper seeks Cabinet’s agreement to amend the Public Finance Act 1989 (the Act) to embed a focus on wellbeing.

Executive Summary

  1. As part of this Government’s work to apply a wellbeing approach within the public service, I am seeking Cabinet’s agreement to amend the Public Finance Act 1989 (the Act) to introduce new requirements for the Government and the Treasury to report on wellbeing.
  2. I am recommending that the Act be amended to require:
    1. the Government to report annually on its wellbeing objectives in the Budget Policy Statement and the Fiscal Strategy Report; and,
    2. the Treasury to report periodically on current and future wellbeing, at least every four years.
  3. These changes would broaden the framework that the Government uses to develop and assess its Budget, and augment the Treasury’s existing reporting on macroeconomic and fiscal indicators.
  4. Legislation is required to take forward the recommendations in this paper. Subject to Cabinet’s agreement, I intend to bring draft legislation to the Cabinet Legislation Committee in August 2019 seeking approval for introduction.

[Extract ends]

Last updated: 
Wednesday, 25 September 2019