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DfT confirms new travel time values for project appraisal

New values of travel time savings will alter transport scheme appraisal results. Andrew Forster reports

19 August 2016
Continuous function and the four distance bands for car employers’ business trips
Continuous function and the four distance bands for car employers’ business trips
Continuous function and the four distance bands for rail employers’ business trips
Continuous function and the four distance bands for rail employers’ business trips

 

Significant changes to the values of travel time savings used in transport scheme appraisal have been confirmed by the DfT. The changes follow a consultation last autumn, which drew on new research by consultant Arup, the Institute for Transport Studies at the University of Leeds, and consultant Accent (LTT 13 Nov 15). 

A key change is the switch to a ‘willingness to pay’ approach for valuing time savings for business travellers. Until now, business values have been based on...

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