The Fourth Wellbeing Initiative roundtable was held virtually on Monday 13 November 2023 and was attended by senior public servants from the Commonwealth and four states and territories.
In line with the custom of CPD roundtable discussions, this meeting was held under the Chatham House Rule.
Brenton Caffin from South Australia’s Department of Premier and Cabinet spoke on SA’s new Economic Statement which presented an economic narrative on twin concepts: an economy that’s fit for the future and improves the wellbeing of all South Australians.
This represents a different approach to talking about the economy – where the economy is seen as subservient to wellbeing. The statement has a ‘Missions’ approach which focuses efforts in industry, academia and government where SA has the best play – the intersection of natural endowments, global trends and the state’s strengths.
The full South Australian Economic Statement goes into further detail on how the state government plans to approach decision making processes and govern for the benefit of future generations.
Attendees also heard from Chris Barrett of the Victorian Department of Treasury and Finance, who presented the department’s Early Intervention Investment Framework (EIIF).
The EIIF has been embedded in the state budget and takes an evidence-based approach to prevention and early intervention, aiming to reduce pressure on acute services and systems.
The full EIIF paper explains further how the framework is helping guide early interventions to improve the lives of Victorians and deliver better outcomes across the service system.
The roundtable had lively discussions and exchanges of learnings – including what success looks like, taking a longitudinal perspective to measurement; and the importance of cultural change as part of any successful initiative implementation, which was a key part of the success in EIIF.
We heard from other jurisdictions about further examples such as the Commonwealth’sMeasuring What Matters, and the ACT’s mandatory Wellbeing Impact Assessments with every budget proposal.
The Centre for Policy Development’s Wellbeing Initiative works on approaches to the economy that meet the needs of people, communities and the environment they depend on.
With world-leading research in wellbeing economics, government practice and public sector innovation, the CPD Wellbeing Initiative has become a leading research effort on Australia’s approach to wellbeing.
The initiative is a nexus for experts, practitioners, public officials and researchers to equip Australia’s government and economy to chart a course to wellbeing for current and future generations.
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