Funding systems should prioritise new infrastructure ahead of management

By Stephen Plowden, London

Tony May points out that “current financing policies make it easier to fund infrastructure than more cost-effective management interventions” (Viewpoint LTT 19 Sep). This inevitably results in a major misallocation of resources. To optimise the allocation of a transport (or any other) budget, the schemes that are candidates for inclusion should first be listed in descending order of their benefit/cost ratios. The next step is to work down the list until the total cost of the...

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