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Last edited 02 Nov 2020
The Green Book, Central Government Guidance On Appraisal And Evaluation, Published by HM Treasury in 2018, suggests that: ‘Social Benefits are the total increase in the welfare of society from an economic action – the sum of the benefit to the agent performing the action plus the benefit accruing to society as a result of the action (external benefits).’
It suggests that social cost benefit analysis: '...quantifies in monetary terms all effects on UK social welfare. Costs to society are given a negative value and benefits to society a positive value. Costs to the public sector are counted as a social welfare cost.'
See also: Social cost.
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