« Previous | Contents |
Listen
Footnotes
1. 0.3 minute is 18 seconds
2. Defined as the number of accidents per lane-km.hr and not taking flow into account
3. Social welfare in economics is a measure of the well-being of society. If this measure is converted into monetary units a value can be attributed to this well-being. It is the aggregate change in the value of social welfare that is examined in social cost benefit analysis. It should, however, be noted that the change in social welfare, arising as a consequence of a transport project, may differ quite significantly from the aggregate financial impacts brought about by that project.
4. It has not been possible to identify the methodology used to calculate the cost of missed deliveries and higher maintenance costs in the Trafficmaster reports - this is despite contacting Trafficmaster and is because Trafficmaster no longer produce the Motorway Congestion Index and there have been associated personnel c5. hanges.
5. If the costs of revenue collection and enforcement had been included in the analysis the cost of congestion estimates would in fact be significantly lower. DfT (2004) estimate the cost of equipping the vehicle fleet with the necessary equipment would be £3 billion and the running costs of the pricing and enforcement scheme would be between £2 and £3 billion per year (or £5 billion per year including optimism bias).
« Previous | Contents |