Type: Technical Support & Training
Catch up on our event explaining the economics of the River Basin Management Plan with the Environment Agency’s Vicki Betts. We will soon add FAQs to this page.
Economics is used to support decision-makers to achieve the best outcomes with limited resources. Appraisal weighs the costs and benefits of different alternatives so that choices can be made between them. In RBMP2021, economics is used in 3 main ways:
1. An economic analysis of water use. This focuses on cost recovery of water services.
2. Objective-setting economic appraisal, ensuring that objectives set in the RBMPs will deliver benefits to society greater than the costs of achieving them.
3. National Economic Assessment, summarising the total costs and benefits over the long term.
This meeting explained these 3 processes and asked questions about how economics can help us all to create the best RBMPs possible. With Vicki Betts, Environment Agency Senior Advisor on Economic Appraisal and lead author of the RBMP2021 National Economic Assessment.