Social Costs and Benefits

HC Deb 07 June 1967 vol 747 cc209-10W

Mr. Heseltine

asked the Minister of Transport if she will establish a common set of standards for the measurement of social cost in transportation.

Mrs. Castle

My Department is pressing ahead with its research into methods of measuring social costs and benefits, but it is too early to attempt to establish common standards applicable to all aspects of transport. A major effort is being devoted to establishing accurate criteria for judging long-term investment projects in road and rail. I have also recently set up a special unit to ensure that I have the fullest possible advice on the economic aspects of railway passenger services proposed for closure, and this will become the nucleus of the machinery for assessing the individual social subsidies to be paid for unremunerative railway passenger services.