I have received an invitation to a DfT workshop on valuing transport investment, to be held on 13 March. Yet, as the recent progress report on the DfT’s research programme on this subject makes clear, the Department’s WebTAG appraisal guidance will continue to depend mainly upon the value placed on user time savings.
When the primary purpose of road spending was reducing congestion, time savings might have been regarded as a reasonable proxy. And when the purpose of assigning...
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