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NZ Treasury says first go at living standards framework to be ready for Budget 2019

NZ Treasury says first go at living standards framework to be ready for Budget 2019

Review: Today Sophie Boot of newsroom.co.nz reported on this morning’s NZ Treasury briefing to the finance and select committee on the proposal by independent economist Conal Smith for the living standards dashboard. The Treasury expects the framework and dashboard to evolve over time, with budget 2019 the “first version”.

Treasury’s Chief Operating Officer, Fiona Ross, expects ‘to see the framework impact how public sector management operates and to get agencies to work more horizontally on issues that affect multiple agencies, along with how government considers ministerial portfolios.’

Treasury’s Chief Economic Adviser, Tim Ng, said that whilst some measures such as employment and housing were measurable, other measures such as social connection would be surveyed: “They are necessarily subjective. Having said that, there is evidence of varying degrees of reliability about the connection between those subjective measures – what people report about their own feelings about social connectedness – and outcomes that actually matter, that you would measure as a government and as a policy analyst, things like participation in the labour force.”

Feature photo: The Treasury says a “first version” of its living standards framework will be ready for the government to use in Budget 2019. Lynn Grieveson.