As finance minister Grant Robinson said, well-being is about “pursuing productive, sustainable, and inclusive economic growth that improves” citizens’ living standards and tackles inequality. This means changing how government policy is made, broadening the range of policy performance indicators government uses.
Forthcoming budgets will prioritise policies that promise improved individual and social outcomes.
Well-being will not inevitably be anti-business; some firms (environmental, construction) could be aided by well-being priorities.
Well-being is unlikely to relocate policymaking power in government, though new lobbying agendas are likely.
If well-being works, other liberal democratic governments could follow, potentially the Scandinavian and Dutch governments.
