Asked by: Stephen O'Brien (Conservative - Eddisbury)
Question to the Department for Education:
To ask the Secretary of State for Education, in what circumstances he uses a calculation of the (a) value of preventing a fatality, (b) willingness to pay and (c) cost-per-quality adjusted life year approach to quantify the value of a policy intervention; what other tools he uses to quantify the benefit of a policy intervention; and if he will make a statement.
Answered by Elizabeth Truss
Department for Education economists employ a range of valuation tools as appropriate to specific policy interventions in order to advise Ministers, following the principles and techniques prescribed in HM Treasury guidance. Such techniques are also used as appropriate in research commissioned by the Department, for instance in policy evaluations.