Higher living standards

As the Government’s lead economic adviser, the Treasury is working to secure higher living standards for New Zealanders.

To manage the economy, the Government must decide on the optimal allocation - the best or most effective possible in a particular situation - of our nation's limited resources to advance the wellbeing of our people.

The Treasury analyses a broad range of evidence to ensure that the economic and financial advice we provide to the government of the day is rigorous and considers a broad range of wellbeing impacts - impacts across the things that matter most for New Zealanders’ living standards – now and into the future.

To help us do this, the Treasury has developed its Living Standards Framework (LSF). The LSF is a practical policy advice tool which supports us in applying a wellbeing approach more systematically across our policy advice and in our work with other government agencies.