Towards a wellbeing economy: reflections on wellbeing budgeting in New Zealand and Australia

Abstract

Purpose

This paper examines the Australian and New Zealand government’s wellbeing budget reforms.

Design/methodology/approach

The paper describes the development of wellbeing budgeting in Australia and New Zealand based on an analysis of official websites, documents and media sources.

Findings

Both governments have experienced challenges identifying measures representing different areas of wellbeing and recognising the connections between the measures applied. They have found it difficult to access reliable data. The development of wellbeing budgeting also raises questions about participation, data reporting, and presentation, which can impact its efficacy.

Research limitations/implications

The paper outlines practical challenges governments face in creating and using wellbeing budgets. It proposes a future research agenda to deepen our understanding of these issues and their social and economic implications. The scope of the study is limited to publicly available documents.

Originality/value

This is one of the few studies investigating wellbeing budgeting, which has evolved as an important tool for public governance. Therefore, the study’s findings may draw substantial interest and attention from practitioners, researchers and government policymakers wanting to integrate these reforms into their governance machinery.

Citation

Moll, J., Ang, S.Y., Kuruppu, C. and Adhikari, P. (2024), "Towards a wellbeing economy: reflections on wellbeing budgeting in New Zealand and Australia", Journal of Public Budgeting, Accounting & Financial Management, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JPBAFM-11-2023-0197