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Economic well-being is about ensuring people have educational opportunities, employment and a decent income. It is also about supporting businesses and enabling opportunities for innovation and entrepreneurship.
A thriving economy is one in which unemployment is low, incomes are relatively high and evenly distributed, and people are well educated. Entrepreneurship and innovation are important for economic growth and for sustaining a dynamic economy. These all contribute to the well-being of people. When people are in employment, when the economy is thriving, and people have money to buy goods and services, their well-being improves.
Between 2001 and 2008 all but three indicators increased, particularly in employment and incomes - largely generated by the growth in the public sector during this time. Since 2008, unemployment rates have increased and there have been decreases in the value of building consents and business start-ups as a percent of business turnover.
All members of our community prosper from a strong and growing economy. A thriving business sector attracts and retains a skilled and productive workforce.
Innovation, creativity and new endeavours are welcomed and encouraged. Ideas are exchanged across all sectors, resulting in a creative business culture. We have excellent education and research institutions, and benefit from being the seat of government.
Using GDP, smoking has traditionally been counted as a benefit to the economy. With a GPI, smoking is regarded as a cost