The Finance and Expenditure Committee called for submissions on the Budget Policy Statement 2022 (the Budget Statement).

We support the inclusion of the Treasury’s Living Standards Framework and He Ara Waiora and agree that collective wellbeing is underpinned by the interconnected nature of the four capitals. More clarity over how the wellbeing objectives connect and align with the Treasury’s Living Standards Framework and He Ara Waiora would also be useful.

We also support the Government’s intention to address the wellbeing objectives in a holistic way that leverages their interconnections. Transparency of expenditure will also be important to illustrate how the Government has successfully leveraged the interconnected nature of these objectives. The funding itself will need to be well-targeted with results that are able to be accurately and appropriately measured.

The pandemic response has appropriately been healthcare driven with the inclusion of economic support measures. It is now time for the Government to be agile and bold, ensuring that the country’s population is vaccinated (through boosters) at pace so that we are well placed to focus on the economic recovery, and are able to open our borders in line with other countries to maximise international travel, hospitality and tourism, as well as international education opportunities and to address skilled and unskilled labour shortages. The Budget Statement sets this intent but action needs to follow in a way that balances both the need for urgency and the long term pursuit of prosperity.

Our further comments can be found in the submission below.