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<p>The Treasury will conduct a zero-based review of capital at the next Spending Review.
It will include an assessment panel of Chief Economists from across government departments,
who will provide technical assistance and expertise to Treasury officials scrutinising
capital spending bids. These top economists will bring significant experience and
expertise in appraising investment in many different sectors, covering economic and
social infrastructure. Investment appraisal will be conducted in line with the Treasury’s
Green Book which is published online. The panel will also draw on the IPA, and functional
expertise built up since 2015.</p><p> </p><p>The assessment panel will be formed ahead
of the Spending Review.</p>
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