What’s new in the 2020 update to the Green Book?
Her Majesty’s Treasury (HMT) has reviewed the Green Book, which was last updated in 2018, to assess whether any changes need to be made. This note provides a high-level summary of HMT’s findings from this review, as well as any changes that it caused.
The most interesting and material changes are the higher emphasis on the strategic case in the business case (relative to the benefit-to-cost ratio (BCR)); the increased importance of place-based analysis to help drive the ‘levelling-up’ agenda; and the announcement that HMT will commission a review into whether a new environmental social discount rate should be introduced.
Contact: Matthew Shepherd