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Our Vision - Higher Living Standards

The Treasury's overarching vision is to be a world-class Treasury working toward higher living standards for New Zealanders. The Living Standards Framework identifies four essential factors that are essential to current and future living standards:

  1. Financial and physical capital – resources such as infrastructure, housing and saved wealth
  2. Natural capital – resources such as a stable climate, quality water and biodiversity
  3. Social capital – institutions and conventions that make our society work, and
  4. Human capital – people's health, education and skills.

We also recognise that there is a range of dimensions of economic and social life that affect living standards and we have identified five key indicators that are particularly important in the current environment. These are reflected in the Living Standards pentagon below.

Higher Living Standards pentagon.

Our Outcomes - Our Role in Creating Higher Living Standards

The Treasury is the Government's lead economic and financial advisor. In fulfilling that role, the Treasury focuses on government policies that increase the opportunities, capabilities and incentives for people to participate productively in economic life. In our role as a Central Agency, we also have an important role to play in supporting government agencies to build their capability to better deliver results now and in the future.

We identified key outcomes that the Treasury and New Zealand need to achieve andorganised ourselves to create a higher performing Treasury that drives to achieve: improved economic performance; a stable and sustainable macroeconomic environment; and a higher performing State sector.

Our People and Our Values

Every person working at the Treasury has a role in helping to achieve higher living standards for New Zealanders. The Treasury's staff bring specialist skills and expertise to the varied and complex challenges of government. We bring policy expertise and operational smarts to the table. We have the ability to pick up complex projects. We understand the power of strong stakeholder relationships so we work hard to develop and maintain them. The way we think and work is driven by behavioural norms and expectations reflected in the organisational values we collectively hold dear. To be successful, the values that all Treasury employees strive to uphold are:

  • Bold and innovative. We will never achieve what we want unless we generate, and act on, new ideas and challenge the status quo.
  • Passionate and ambitious. We need to attract, retain and motivate the best people, challenge them, treat them exceptionally well and keep them focused on significant work.
  • Collaborative and challenging.We must work with others to achieve our outcomes – maintaining the rigour and analytical excellence that is our traditional strength, coupled with a collaborative approach that gets things done in the real world.
  • Adaptable and focused.We do a lot of complex and important work, so we need to focus on what really matters, look beyond our own boundaries and common ways of working and shift gears when we need to.
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