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HM Treasury should update the Green Book as promised, in particular to reflect these wider...

Conclusion
HM Treasury should update the Green Book as promised, in particular to reflect these wider Government objectives. There is a pressing need to publish this update so that new infrastructure investment can be appraised in line with its guidelines. The Committee would like it to be published no later than September so that post-Covid spending can be appraised using the updated guidelines.
Paragraph Reference
61
Government Response
Acknowledged
HM Government Acknowledged
A revised Green Book will be published at Spending Review (SR) following the review which is looking into, for example, Benefit Cost Ratios, the current appraisal strategy and aspects of the five case model. HMT have ensured that findings from the review are feeding into the SR process ensuring there is a greater focus for bids to reflect policy objectives, with a robust case for intervention and theory of change for how that intervention will be achieved. There will also be more emphasis on the regional impacts of interventions. Business cases for programmes and projects covered in SR20 bids will have to be developed on the basis of the revised Green Book.
Source
Committee Public Administration and Constitutional Affairs Committee
Inquiry The Government’s management of its major projects
Report Third Report - Delivering the Government’s infrastructure commitments through major projects 28 Jul 2020 HC 125
View on Parliament website
Timeline
Recommendation age 5.8 yrs
Report published 28 Jul 2020