Egis in the UK welcomes government’s plan to review Green Book project appraisal method

Responding to the chancellor’s announcement of a review of the Green Book to ensure all investment projects are considered fairly by the Treasury, James Hill, Urban Transit Director at Egis in the UK, said: “For too long the guidelines for assessing value for money have systematically overstated costs while undervaluing the intangible social benefits a project could deliver, naturally favouring those in London and the south east.

“The chancellor’s promise to work closely with local decisionmakers will be crucial in driving economic growth and attracting investment to regions that have been overlooked as a result of the current Green Book’s influence on project funding.

“We are calling on the government to ensure the revised Green Book fairly reflects the wider social benefits of infrastructure projects, which is particularly important outside the capital. By taking an approach that acknowledges the true extent of the social benefits infrastructure projects can deliver, business cases at the project level would become easier to make and to justify. Projects can then be assessed against the true benefits they deliver, as opposed to their basic functions. This would facilitate the delivery of the right infrastructure in the right places, improving value for money for the taxpayer.

“Alongside the government’s commitment to accelerating the delivery of infrastructure and housing through the Planning and Infrastructure Bill, the chancellor’s speech is undoubtedly a move in the right direction. That said, we will only be able to measure the success of the subsequent changes once they have been implemented.”