THE MEASURING WHAT MATTERS framework uses 50 indicators to measure how the country is faring in pursuing a more healthy, secure, sustainable, cohesive, and prosperous Australia.
The measures will be used to track Australia’s progress in addition to economic indicators like GDP, employment, inflation, and wages in a bid to “simultaneously work on better aligning our economic and social goals”.
For example, the initial framework shows that over the past 20 years, there have been improvements in life expectancy, job opportunities, diversity acceptance, and income growth over the past two decades. Yet there are higher rates of chronic conditions, difficulties accessing healthcare, lower national security perception, declining biological diversity, fiscal sustainability issues, and increased housing costs relative to income.
Releasing the framework in July, Treasurer Jim Chalmers said: “Measuring What Matters is part of a deliberate effort to put people and progress, fairness and opportunity at the very core of our thinking about our economy and our society, now and into the future.
“The framework will help tell us how we are tracking over time, where we are doing well and where we need to do better.”
