The DfT’s new wider economic impacts guidance marks the latest stage in the evolution of how transport projects and programmes are appraised. The central focus of cost benefit analysis adopted in the 1970s was transport user benefits such as time savings and they remain at the heart of the DfT’s appraisal toolkit today. But user benefits fail to reflect the wider economic impacts that are often the motivations for project promoters. In the mid-2000s new guidance on capturing wider...
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