Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what plans he has to update his Department's Green Book to include a social value case.

The Government is currently reviewing the Green Book - the government’s core guidance on how to develop and appraise schemes against government objectives – to ensure it is consistent with the Government’s ambition to level-up opportunity across the United Kingdom.

The economic case within the Green Book is concerned with social value. It requires all impacts – social, environmental, economic, financial etc. – to be assessed relative to what would have taken place in absence of intervention, referred to in the Green Book as business as usual. The relevant costs and benefits are those for UK society overall, not just to the public sector or originating institution.

As part of the review, the Chancellor set out at the Budget earlier this year that the government is keen to ensure that government spending is not just narrowly focused on where it will bring the highest immediate return, but also on where it may unlock the productive potential of an area and achieve broader long-term benefits.

The review is looking to enhance the strategic development and assessment of projects, consider how to assess and present local impacts, and looking to develop new analytical methods for place-based interventions.

An updated Green Book will be published later in the year, and early findings will inform the Spending Review in Autumn.