The DfT has confirmed changes to the way wider economic impacts of transport projects are appraised, including advice on capturing the direct land-use impacts and how to report GDP/Gross Value Added impacts.
Scheme promoters will be expected to prepare a context-specific economic narrative of their projects. The guidance also recommends as many as three levels of economic analysis for a project:
• level 1 – direct economic impacts in the transport market
• level 2 –...
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