Wellbeing Economy Wales
Wales is facing a defining moment. With the climate emergency deepening, inequality widening, and public services under sustained pressure, it is clear that the current economic model is no longer fit for purpose. This manifesto, developed by Institute of Welsh Affairs (IWA) in partnership with Oxfam Cymru, sets out a bold yet practical roadmap for building a Wellbeing Economy in Wales—an economy designed to serve the needs of people and the planet, now and for generations to come.
A Wellbeing Economy is one where the goal of economic policy is not simply growth for its own sake, but the wellbeing of all people within planetary boundaries. It challenges the idea that Gross Domestic Product (GDP) is the sole or best measure of success. Instead, it prioritises social justice, environmental sustainability, health, equality, and meaningful livelihoods. It recognises that a thriving economy depends on a healthy environment and a society where no one is left behind.