Concrete's Contribution to Living Standards
Monday, 3 June 2019
A Concrete NZ commissioned BERL report uses Treasury's Living Standards Framework to illustrate the concrete industry’s significant contribution to 'wellbeing' in New Zealand.
With the change of Government in 2017, came a different way of looking at how the economy and the nation are performing. An interest in broad wellbeing was signalled, rather than a focus on financial measures, such as GDP.
Wellbeing was to be measured via the Treasury’s Living Standards Framework (LSF).
The LSF holds that inter-generational wellbeing depends on the growth, distribution and sustainability of four interdependent capitals: Human, Social, Physical & Financial, and Natural.
Wellbeing in the Four Capitals can be measured by indicators that include Housing, Incomes, Jobs, Community, Education and the Environment etc.
In the lead-up to last month’s ‘Wellbeing Budget’, Concrete NZ recognised the LSF as providing a useful way of thinking about how existing activities and potential investment decisions impact on current and future wellbeing.
As such, BERL (Business and Economic Research) were commissioned to assess how the concrete industry is performing in terms of the Framework.
Evidence was collected to demonstrate how the concrete industry uses the Four Capitals to undertake activities, produce outputs and ultimately to secure the outcomes.
BERL found that as a good employer the concrete industry undertook innovative activities in a manner respectful to the environment, and that while creating essential and irreplaceable outputs, the industry delivered wellbeing outcomes that are enjoyed and sustain and grow the Four Capitals.
Concrete NZ will utilise the report to progress its relationship with the Government and help navigate the policy landscape.
Download a copy of BERL’s summary report An Assessment of Concrete’s Contribution to Living Standards in New Zealand.