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The Treasury approach to the Living Standards Framework New Zealand Treasury

By: New Zealand. Treasury.
Material type: materialTypeLabelBookPublisher: Wellington, New Zealand : New Zealand Treasury, 2018Description: electronic document (16 pages) ; PDF file.ISBN: 978-1-98-853487-9 (Online).Subject(s): CHILD POVERTY | ECONOMIC ANALYSIS | GOVERNMENT POLICY | Living Standards Framework | SOCIAL POLICY | WELLBEING | NEW ZEALANDOnline resources: Click here to access online | Background information Summary: The Living Standards Framework (LSF) has been developed by the New Zealand Treasury to consider the collective impact of policies on intergenerational wellbeing. This is a Treasury Paper describing an overview of our approach to understanding and measuring living standards. In parallel to this paper New Zealand Treasury are publishing four discussion papers on: 1 Wellbeing Frameworks for the Treasury; 2 The Value of New Zealand’s Human Capital; 3 The Value of New Zealand’s Natural Capital; and 4 The Value of New Zealand’s Social Capital. The discussion papers are not the Treasury’s position on these issues. Broadly, they describe other, usually academic and international work as a step towards measuring intergenerational wellbeing and its sustainability in New Zealand. The reader will find marked differences between the papers. This reflects differences in the subject matter and the state of knowledge. The Treasury very much welcomes comments on these papers to help bring these strands of work together into a cohesive set of indicators. The papers do not cover all the issues and work has already begun on cultural capital, financial and physical capital and dealing with uncertainty. Further discussion papers will be released on these and other topics as our work develops. (From the Introduction). Background information about this approach is provided in a Newsroom. article "Treasury lifts lid on wellbeing work". Record #5771
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The Living Standards Framework (LSF) has been developed by the New Zealand Treasury to consider the collective impact of policies on intergenerational wellbeing. This is a Treasury Paper describing an overview of our approach to understanding and measuring living standards.

In parallel to this paper New Zealand Treasury are publishing four discussion papers on:
1 Wellbeing Frameworks for the Treasury;
2 The Value of New Zealand’s Human Capital;
3 The Value of New Zealand’s Natural Capital; and
4 The Value of New Zealand’s Social Capital.

The discussion papers are not the Treasury’s position on these issues. Broadly, they describe other, usually academic and international work as a step towards measuring intergenerational wellbeing and its sustainability in New Zealand. The reader will find marked differences between the papers. This reflects differences in the subject matter and the state of knowledge. The Treasury very much welcomes comments on these papers to help bring these strands of work together into a cohesive set of indicators. The papers do not cover all the issues and work has already begun on cultural capital, financial and physical capital and dealing with uncertainty. Further discussion papers will be released on these and other topics as our work develops.
(From the Introduction). Background information about this approach is provided in a Newsroom. article "Treasury lifts lid on wellbeing work". Record #5771