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New Zealand’s well-being budget was based on a set of measures that include cultural identity, environment, income and consumption, and social connections. from www.shutterstock.com

The search for an alternative to GDP to measure a nation’s progress – the New Zealand experience

New analysis shows that if New Zealand replaced GDP with the Genuine Progress Indicator, which accounts for social and environmental costs, it would be only half as well off.
Finance minister Grant Robertson will announce New Zealand’s first budget that uses a well-being measures. from www.shutterstock.com

New Zealand’s well-being approach to budget is not new, but could shift major issues

New Zealand’s upcoming budget takes a well-being approach based on a suite of living standard indicators. But will this be different to what conservative governments elsewhere tried a decade ago?

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