Research and analysis

Private finance treatment in economic transport appraisal

Research that examines how public and private financing options should be treated in economic transport appraisal.

• From: Department for Transport
• Published: 29 October 2026

Documents

The treatment of privately financed procurement in economic appraisal

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Details

This research examines how economic appraisal and cost-benefit analysis should treat privately financed public infrastructure.

It considers:

• how to compare public and private financing options consistently
• whether changes in accounting treatment should affect transport appraisal results

It concludes that accounting classifications should not change a transport project’s underlying economic costs and benefits. It also discusses options for improving the appraisal of financing choices. 

Michael Spackman completed this research on behalf of the Department for Transport.