New Zealand will have a new ‘well-being budget,’ says Jacinda Ardern

new zealand

(Unsplash, 2019)

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.

Author: Ceri Parker, Commissioning Editor, Agenda, World Economic Forum


Jacinda Ardern has unveiled a new approach to running New Zealand’s finances.

“We need to address the societal well-being of our nation, not just the economic well-being,” she said during a Davos discussion on More than GDP.

This means that from 2019, her government will present a “well-being budget” to gauge the long-term impact of policy on the quality of people’s lives.

In practical terms, child poverty figures will be presented at every budget. The onus will be on ministers to show how spending proposals will benefit people, and work with other ministers across party lines to ensure they have a positive, long-term impact, Ardern explained.

“Our people are telling us that politics are not delivering and meeting their expectations. This is not woolly, it’s critical,” she said.

Unprecedented wage stagnation is a major concern in OECD countries, hollowing out living standards for the majority of people and fuelling populism.

The world’s youngest female head of state said that trade wars and Brexit were a proxy for the frustration people felt over a political and economic set-up that had left them behind.

Ardern said that politics needed to be more altruistic, and more long-term, to address the deep-rooted challenges we’re grappling with as the economy changes.

 

According to the New Zealand government website, the 2019 budget will use different measurements this year.

“The Wellbeing Budget will broaden the Budget’s focus beyond economic and fiscal policy by using the Treasury’s Living Standards Framework to inform the Government’s investment priorities and funding decisions. The Government will measure and report against a broader set of indicators to show a more rounded measure of success, as a country and as a Government.”

The results will play out over decades – but Ardern argued for a shift beyond short-term cycles and for seeing politics through a lense of “kindness, empathy and well-being”.

Advertising

Advertising

Advertising

Advertising

Advertising

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Consumer protection: Commission welcomes political agreement by Council on the Representative Actions Directive

Is this a turning point in the fight against slavery?

Global public-private collaboration tackles cybersecurity skills gap

One good reason to feel less blue about the future of our oceans

Primary Healthcare: Back to the Basics

Where does our food come from? Here’s why we need to know

Here’s how China is going green

FROM THE FIELD: Sailing a traditional and sustainable path in Fiji’s tropical waters

Commissioner Hogan announces new transparency package

MWC 2016: IoT experts fret over fragmentation

Precision medicine should be accessible to all

The end of the 404? Why we need to repair the internet’s crumbling infrastructure

Millions of young lives at risk due to humanitarian funding shortfall: UNICEF

The EU Commission predicts a decimated growth in the next years

US migrant children policy reversal, still ‘fails’ thousands of detained youngsters: UN rights experts

Ukrainian civil war: Is this the beginning of the end or the end of the beginning?

In visit to hurricane-ravaged Bahamas, UN chief calls for greater action to address climate change

Europe’s far-right launches attacks on neighboring nations

Collaboration and connectivity at ITU Telecom World 2019

“A divided Europe is not in China’s interests”, Ambassador Zhang of the Chinese Mission to EU welcomes Brussels

UN expert ‘shocked’ by Egyptian reprisals against human rights defenders she met

Four ways Europe can become a global innovation leader

EU-Vietnam: Council adopts decisions to sign trade and investment agreements

EU budget: Boosting cooperation between tax and customs authorities for a safer and more prosperous EU

Guterres expresses ‘grave concern’ following explosion at large political rally for reform-minded Ethiopian Prime Minister

UN chief condemns attack in south-west Iran which killed dozens

The Free World Experience Report – LGBTQI+ health on the spot

We need a new approach to cutting greenhouse gas emissions: and it’s all about innovation

Countries must invest at least 1% more of GDP on primary healthcare to eliminate glaring coverage gaps

Have Europe’s Ukrainian wounds begun to heal?

Rising landmine blast toll in Afghanistan highlights long-term care needs of survivors

UN chief calls for ‘increased commitment’ to resolution on 10th anniversary of Georgia conflict

The ‘abuse of food relief in Yemen’ must end now

Corruption thwarts attempts to build a better world and ‘must be fought by all, for all’

The future of international election observation missions

Human Rights: breaches in Cambodia, Uganda and Myanmar

6th Edition of India m2m + iot Forum 2019 concluded, in association with The European Sting

Security Council downsizes AU-UN mission in Darfur, eying eventual exit

Three steps we must take to secure the future of our forests

The Netherlands is paying people to cycle to work

How data can empower patients to personalize and improve their cancer treatment

Tax Inspectors Without Borders making significant progress toward strengthening developing countries’ ability to effectively tax multinational enterprises

Telemedicine and the Brazilian reality

Nowhere is safe to hide in war-torn Yemen, say UN-appointed rights experts

UN chief urges Hamas and Israel to ‘step back from the brink of another devastating conflict’ in Gaza

Sweden gives all employees time off to be entrepreneurs

Make the internet safer: stop using passwords

Everything you need to know about water

Prospect of lasting peace ‘fading by the day’ in Gaza and West Bank, senior UN envoy warns

Is Europe ready to cooperate with the rest of the world? Can Germany change its selfish policies?

ECB doesn’t dare touch Eurozone’s big banks

G20 LIVE: “Re-envisioning the economy to enable women to reach their full potential” live from Antalya Turkey

Commission reinforces tools to ensure Europe’s interests in international trade

WHO reports ‘very strong progress’ in battling DR Congo Ebola outbreak

Food finally features in the climate debate. Now what?

Fair completion rules and the law of gravity don’t apply to banks

Swedish PM Löfven: “Our common values must guide us to an even better future”

This billion-dollar campaign wants to protect 30% of the planet by 2030

Building cybersecurity capacity through benchmarking: the Global Cybersecurity Index

Europe votes against GMOs but the Council votes for TTIP

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s