HL Deb 22 April 1998 vol 588 cc213-4WA
Lord Kennet

asked Her Majesty's Government:

What is their view of the "willingness to pay" method of environmental resource assessment. [HL1528]

Baroness Hayman

"Willingness to pay" is a useful concept which can provide valuations of environmental impacts or other changes for which there is no readily observed market price. In some cases it underpins the use of cost benefit analysis in making decisions on policies, projects or programmes in the public sector.