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<p>The Green Book requires that all new policies, programmes and projects be subject
to a comprehensive but proportional assessment of value for money and that, wherever
feasible, all impacts of the proposal should be accounted for within the social cost
benefit appraisal.</p><p> </p><p> </p><p> </p><p>The Department for Transport appraises
transport investment using the Department’s Transport Analysis Guidance, which is
fully compliant with the Green Book. The guidance takes into account a number of wider
economic impacts, such as labour market effects and agglomeration economies. The Department
also appraises the impacts of transport investments on unlocking housing developments
and regeneration areas. Where appropriate these impacts are quantified and monetised
for transport schemes.</p><p> </p><p> </p><p> </p><p>The government guidance on project
appraisal, including that specifically relating to transport investment, is kept under
constant review and is updated and developed when appropriate.</p><p> </p><p> </p><p>
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