Wellbeing and Economic Policy: Lessons from New Zealand

Abstract

In November 2018, New Zealand became a founding member of the Wellbeing Economy Governments partnership (WEGo), alongside Scotland and Iceland. Wales joined the partnership in May 2020. The governments of these four countries are collaborating to bring wellbeing into the heart of economic policymaking. The purpose of this Research Briefing is to summarise lessons from New Zealand’s experience of incorporating wellbeing into economic policy, which led its government on 30 May 2019 to deliver the world’s first Wellbeing Budget. It is prepared by the Agribusiness and Economics Research Unit at Lincoln University, New Zealand, whose mission since 2009 is to exercise leadership in research for sustainable wellbeing.