CEP election analysis
Wellbeing
Executive summary
- Wellbeing should be the overarching aim of government. Goods such as wealth, health and freedom are good because of how they contribute to people's wellbeing.
- The share of the vote that an incumbent government receives is affected more by the life satisfaction of the population than by the state of the economy.
- The factors affecting life satisfaction are, in order of importance: mental health, physical health, having a partner, employment, income and education.
- These factors help in the search for policies that affect wellbeing, but we also need to know the cost/benefit in terms of wellbeing for each policy.
- The Wellbeing research programme at CEP is currently estimating wellbeing-based measures of benefit/cost ratios across the whole of government. Its forthcoming report Value for Money identifies mental health as the single most important area for policy development - and proposes a new service for those suffering from addictions, personality disorders or severe mental illness following the model of the NHS Talking Therapies service.
- Schools have an important role in preparing children for a satisfying adult life, this includes cultivating the wellbeing of children.
28 June 2024 Paper Number CEPEA063
This publication comes under the following theme: Targeting policy at wellbeing