Living Standards Framework (LSF)

A framework for developing government economic policy that considers the holistic impacts a policy can have for Aotearoa.
Created by Aotearoa’s Treasury, the LSF is based on things that add to or take away from our wellbeing, the institutions and governance of our society, and four ‘capitals’: human, social, natural, and financial/physical.
Example:
A tax system should grow wellbeing across generations, not just GDP.
Diagram of The Treasury’s Living Standard’s Framework: