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    Treasury’s renewed Green Book: appraisal shifts explained for project engineers

    February 6, 2026|

    Reviewed by Joe Ashwell

    Treasury’s renewed Green Book: appraisal shifts explained for project engineers

    First reported on New Civil Engineer

    30 Second Briefing

    The UK Treasury has issued a slimmed‑down Green Book, revising the appraisal rules that govern billions of pounds of public investment in transport, flood defences and other major infrastructure. The update is intended to give “overlooked” regions a stronger case in cost‑benefit analysis by rebalancing how wider economic impacts, distributional effects and place‑based regeneration are valued alongside pure benefit–cost ratios. Civil and geotechnical schemes in lower‑income or lower‑productivity areas could now score better in business cases for road upgrades, rail links and resilience works.

    Technical Brief

    • New guidance is framed as changing how ministers assess and compare public investment options at spending reviews.
    • Over time, the change is likely to alter scheme ranking within regional investment pipelines, reshaping which projects proceed to design.

    Our Take

    HM Treasury’s role in both the renewed Green Book and the Lower Thames Crossing’s regulated asset base (RAB) model signals a push to standardise how long-lived infrastructure risk and value are appraised, which will matter for any project in ‘overlooked’ areas trying to justify higher upfront public support.

    Our database shows Treasury-linked pieces ranging from the Darlington Economic Campus hub to Amey’s calls for long-term infrastructure funding, suggesting that practitioners should treat the updated Green Book as the reference point when framing business cases around productivity, regional rebalancing and net zero rather than narrow cost–benefit alone.

    For contractors and consultants bidding into Government Property Agency or National Highways pipelines, aligning appraisal assumptions and distributional analysis with the renewed Green Book will likely become as important as price, because central sign-off on schemes in less prosperous regions will lean heavily on those revised metrics.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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