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Living Standards Framework

A highlight of the Treasury's year is the development of our Living Standards Framework. As we increased our understanding of the component parts of living standards, we saw the need for a robust and flexible tool to assess the contributions our day-to-day work makes towards our vision. The Living Standards Framework doesn't generate simple answers but it ensures that we acknowledge that there are both material and non-material factors that impact on living standards. It ensures that we recognise and articulate the choices we have to make in striving for a growing economy. Our Living Standards Framework is a clear demonstration that the Treasury's view of the world is far broader than many people realise. It provides a solid foundation for our advice to Ministers, giving them greater confidence when making their decisions.

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