Acountry’s infrastructure is of great importance for the modern economy. If the UK is to operate effectively and efficiently in a global market, it needs up-to-date infrastructure, notably good transport and communication networks. At the same time, it is important to be aware of the need to balance efficiency against the quality of the environment in which we live, and to recognise the importance of our cultural heritage. The challenge is to be able to evaluate competing demands on resources.
benefit–cost analysis, infrastructure investment, environmental economics
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