Papers a new tool for fresh thinking on raising living standards
A new suite of papers on the Treasury’s Living Standards Framework will help analysts bring a broader perspective and fresh thinking to their policy development work, Chief Economist Dr Girol Karacaoglu said today.

“The Treasury's vision is to improve the living standards of New Zealanders, and we use our Living Standards Framework as a tool to assess the contributions our day-to-day work makes towards our vision. It encapsulates five key aspects that we see as important for improving living standards – economic growth, sustainability for the future, increasing equity, managing risk, and social infrastructure,” says Dr Karacaoglu.

“The framework doesn’t generate simple answers, but it ensures that we consider both material and non-material factors that impact on living standards when we develop policy advice, and it helps us articulate the choices we have to make in striving for a growing economy.

“The Treasury has had requests from many analysts, researchers and others wanting more information on the framework and its key aspects, and looking for guidance that will help them apply the framework to their own work. The suite of papers we’ve published provides a set of tools and resources that we hope will encourage strong analysis and fresh thinking about raising living standards for New Zealanders.”

The new papers are analyst guides and background notes on each of the five key aspects of the Living Standards Framework. The analyst guides outline why each aspect is important for living standards, sets out some parameters for that aspect, and offers frameworks for thinking about policy options. The background notes provide summary information and links to Treasury or external research on each key aspect, with a focus on evidence about New Zealand's performance. A background note on social infrastructure will be published later in 2013.

“We want to make sure these papers are as useful and relevant as they can be for putting the Living Standards Framework into practice, so we welcome any feedback,” says Dr Karacaoglu.

The analyst guides, background notes and further information on the Living Standards Framework are available on the Treasury website: http://www.treasury.govt.nz/abouttreasury/higherlivingstandards

ENDS

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Mighty River: 'Mum And Dad’ Investors Myth Busted

Green Party research, confirmed by Treasury, shows that half of the shares in Mighty River Power that National sold to retail investors went to just 13,000 people and that 10 percent of the retail shares went to just 400 wealthy people and organisations, Green Party Co-leader Dr Russel Norman said today.

The sale of Mighty River Power saw 113,000 retail investors, referred to as ‘mum and dad’ investors by the National Government, buy 26.9 percent of the company. Analysis by the Greens and Treasury shows that half of those shares were, in fact, purchased by fewer than 13,000 people who bought an average of nearly $35,000 worth of shares...

“The truth is that 98 percent of New Zealanders bought no shares at all. Half the retail shares went to just 0.3 percent of the population, and a tiny group of just 400 wealthy individuals and organisations got 10 percent of the retail shares. More>>