The next key issue is how much it costs to land within 800 metres of commuter The effect is a mass of low-skilled workers, produce the benefits. [...] If the aim Employment support for severe mental illness 1.7 of the budget is to maximise the nation’s Lower Thames Crossing 1.5 wellbeing, then policies should be valued Rail (London to Birmingham) 1.2 by their BCRs and those with higher BCRs adopted, up to the point when the budget Winter fuel allowance 1 is exhausted. [...] If this were done, HM Treasury (2021) ‘Wellbeing Guidance raised just before the pandemic and we can the UK would be the first country in the for Appraisal: Supplementary Green Book estimate the loss of wellbeing which that world to have such a rational system of Guidance’. [...] And the saving to the budget was example to the world. [...] Government Spending’, report by the We hope that in the 2025 spending David Frayman is a research economist in Comptroller and Auditor General for the review the Treasury will require departments CEP’s community wellbeing programme.
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Table of Contents
- Choosing policies that most improve wellbeing would radically change government priorities. and explain the science behind the new approach. 1
- David Frayman Christian Krekel Richard Layard Sara MacLennan Isaac Parkes 1
- Measuring wellbeing 1
- Estimating the benefits of policies 2
- Every policy should be judged by the wellbeing benefits it provides per pound spent 2
- Estimating the net cost of policies 3
- The benefitcost ratio 3
- Some examples 3
- The ratio of benefits to net costs 3
- Government exists to improve the wellbeing of the people 3
- Reducing misery 4
- Conclusion 4
- Many mental health initiatives have no net cost indeed they save the government more than the original cost 4
- Further reading 4
