David Smith on Transport
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Students taking papers this June on Transport economics should make a beeline for David Smith’s article in today’s Sunday Times and available on his website.
“Road congestion costs the economy an officially estimated £7 billion to £8 billion a year, according to the Department of Transport. Unofficial academic studies put the figure as high as £21 billion annually. I would not be surprised if even this was an underestimate. This is because, while it is possible to measure the direct effects of transport inadequacies, the indirect effects are harder to gauge.”
I think that the case for an extension of road pricing is becoming over-whelming.
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