This paper gives UK government estimates of the values for prevention of road casualties and road accidents, for use in the appraisal of road schemes. Since 1993, the valuation of fatal and non-fatal casualties has been based on a consistent willingness to pay approach. The values for the prevention of fatal, serious and slight casualties include cost elements of loss of output, ambulance and hospital costs, and human costs. The value of prevention of an injury accident is greater than the value of the corresponding casualty. For 2002, values have been updated using an index which reflects inflation and economic growth. The most appropriate accident or casualty figures to use depend on the amount of information available for the scheme under review. The total value of prevention of all road accidents in 2002 was estimated to have been UK£17,760M.
Abstract