Globally, more children are in need today than since UNICEF was created at the end of World War II. As Australia deals with the ripple effects of rising inflation, climate change and supply shortages, many Australians are doing it tough. The cost-of-living crisis is biting hard.
Despite this, there is a belief it’s time to expand Australia’s definition of progress beyond economic means. When it comes to managing our economy, there’s a view that it needs to be about numbers, but it also needs to be about people’s wellbeing.
It needs to look at whether funding into healthcare and education, for instance, are helping people as intended and boosting quality of life.
Earlier this month, Treasurer Jim Chalmers announced that Australia is developing a national framework for wellbeing with direct links to the Budget. It’s something advocates have been calling for, for some time – a new way to balance the books, using a mix of indicators which aim to improve the standard of living for all Australians.
The ‘Measuring What Matters’ framework will cover five broad themes – health, security, sustainability, cohesiveness, and prosperity. It has 50 indicators, which Treasury “will track.” Three of these indicators relate to children and focus on childhood development, literacy and numeracy skills at school and experiences of abuse.
They’re broad but important indicators. So, why do they matter?
At UNICEF Australia, we want all children and young people to feel provided for and have an economy where wealth is distributed so that no child or person is left behind.
We want families to have better access to quality and affordable early childhood education and care. We want children to be safe in the community and in the online world. There needs to be a greater investment in mental health support for children in school. These are just a few areas, where it’s possible to make meaningful changes to the wellbeing of children, young people and their families.
Children and young people make up about 30 per cent of Australia’s population – we should be taking their needs and wellbeing into account and measuring it. Three indicators for children and young people are a good starting point but we need to see a bigger emphasis on improving their wellbeing.
UNICEF Australia and ARACY’s Children’s Wellbeing Index uses data to tell the story of Australian children. That story tells us that while most children are doing well, this is not the case for all.
Many children in Australia are happy, healthy, learning and thriving. But poverty, increasing mental health concerns, and disparities for First Nations children are very real issues.
One in six children are living below the poverty line. Seven out of 125 Aboriginal and Torres Strait Islander children are in out of home care.
While the government’s Wellness Framework is a great first step, we’d encourage Treasury to use our Wellbeing Index to understand and improve the lives of children and young people across the nation.
Progress with children is something UNICEF Australia will continue to measure – looking at how we’re doing and ensuring Australia continues to be a great place to grow up.
Children also offer a unique return on investment for the government. We know that for every $1 spent on early childhood development, the return on investment can be as high as $13.
A child who experiences quality childcare may see their employment chances increase by up to 19 per cent and future income lift by up to $30,000 by the time they start working. Failing to act can reduce a child’s future earnings by up to 25 per cent.
Childhood sets the foundation for adult life, and when we set children and young people up for the chance to thrive, they, as individuals, benefit, and so does society.
By measuring their needs is to set Australia up for future success.
One day, like their parents, they will pay taxes and invest in much-needed economic growth. They will run Australia and they will raise the next generation of children equipped with the skills and tools we give them now. Their wellbeing forecasts the nation’s future wellbeing.
Some people will ask what measuring wellbeing will achieve. Right now, we know the process for monitoring and measuring budget investments can improve.
JobSeeker payments went up to try and help people meet basic needs such as housing, put food on the table and cover the costs of medical treatment.
But short of looking at employment rates, what was the impact of that investment? Did it achieve the desired outcomes? Capturing current accurate data and having pulse check indicators to measure wellbeing, should mean the government can more accurately measure the impact of its budget spend.
And with the surplus announced in the last Budget, now is the time to think about our priorities and where we can make future investments.
We’re told this new approach to wellbeing will evolve and time will tell if these ambitions can be realised, let’s hope not just in the realms of wishful thinking.