The “Stern Report”, a policy document providing advice to the British government on climate change has gotten a fair amount of notice in the press lately.
A very similar document published in January, the Eddington Report, has not drawn as much attention, but as it focuses on transportation policy, should be very interesting to readers of this blog. The report was jointly commissioned by the Chancellor of the Exchequer and the Secretary of State for Transport in the UK (the U.S. equivalents would be the Secretary of the Treasury and the Secretary of Transportation).
I’ve only read the executive summary, but it’s still an impressive piece of research.
Sir Rod reaches the same conclusion that the “Cost of Congestion” study does, that transpotation is vital to the economy, and that investing in transport will be important. But he also reaches some conclusions that go in a different direction:
- That transportation infrastructure is largely built out, so we’re looking at incremental improvements
- That the first and most important thing to do is add pricing to the system, attaching prices both to congestion and carbon footprint
- That many small projects are going to have more impact than a few large projects (note that scale is relative here – by “large” I think he means things like the Trans Texas Tollway)
Sit down and have a good read…