NSW Finance Minister Courtney Houssos says future state budgets will include a performance and wellbeing framework that aims to drive “positive social outcomes” and improve transparency.
According to The Sydney Morning Herald, the NSW government will revise the state budget to include people’s well-being in addition to standard economic measures like growth, employment, and deficit.
Other countries that have adopted wellbeing frameworks to assess results not entirely represented by economic statistics include the United Kingdom, Canada, New Zealand, and Germany.
Mrs Houssos said measuring improvements in schooling standards was an example of how the framework would help.
“Addressing the big challenges facing the state will take time, and we want to show how we are progressing on the solutions,” Houssos said.
“We will consider what other countries around the world are doing and where we can learn from them.”
The performance and wellness framework in the NSW budget will replace the former Coalition government’s outcomes statement, which comprised over 250 objectives and 700 performance metrics.
Source: The Sydney Morning Herald
