Shifting towards a Well-being Economy in Wales for a fairer, sustainable and healthier society

Abstract

Abstract Wales, and other nations globally, face long-standing challenges such as climate change and on-going impacts of the pandemic. This has increased persisting health inequities, widening the health gap and putting health and social systems and other public services under even more pressure. Economic models that prioritise growth and profit over well-being of societies and the planet underpin these developments, this is unsustainable and threatens human, economic and planetary well-being. New political imperatives are emerging across Wales that foster new collaborations and innovative, sustainable and inclusive solutions that shift towards a Well-being Economy, creating shared and co-created well-being for current and future generations. Health is key component to create a Well-being Economy in Wales and is a driver and beneficiary. Public Health Wales’ work has been focused around the social determinants of health taking a holistic approach enabling cross-sector responsibility for health to shift to a Well-being Economy. Wales has created an enabling legislative environment with the (i) Well-being of Future Generations (Wales) underpinning all public body decisions, (ii) created a strong Foundational Economy and (iii) established a Future Generations Commissioner that encourages public bodies to take greater account of the long-term impact of their decisions. Metrics were implemented that go being Gross Domestic Produce (GDP) and monitor well-being outcomes in all sectors decisions. Welsh culture and language has been vital to create a sense of belonging and community cohesion building trust and healing social fractures. Shifting towards a Well-being Economy in Wales takes a whole of systems approach, working across sectors at all levels. A variety of mechanisms such as legislations, metrics, accountability measures and participation takes the approach forward. Public health appears to be a driver, co-creator and beneficiary in the approach. Key messages • Re-envisioning the economy in Wales towards a Well-being Economy is crucial to improve health and well-being and tackle inequalities. • Wales’ Well-being Economy approach has created a national cultural change at all levels that focuses on co-created well-being for all.