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Written question asked by Baroness Alexander of Cleveden (Labour) on Monday, 13 July 2026, in the House of Lords. It was due for an answer on Monday, 27 July 2026. It was answered by Lord Livermore (Labour) on Friday, 17 July 2026 on behalf of the Treasury.

Public Expenditure

Question

To ask His Majesty's Government what changes they have made to the HM Treasury Green Book in the last two years; and what was the purpose of each change.

Answer

HM Treasury concluded its review of the Green Book in June 2025. Since then, it has published a clearer, shorter Green Book, ensuring decisions are no longer based solely on single metrics such as benefit-cost ratios (BCRs), but instead consider the full range of potential impacts.

HM Treasury has streamlined business case guidance, and has published the findings of an independent review into the Green Book discount rate, ensuring the government is taking a fair view of long-term investment proposals.

HM Treasury is also piloting place-based business cases (PBBCs) with four early adopter locations, working in close partnership with regional, local and devolved governments, including mayors, to test a new approach to appraisal that puts local objectives at the centre. Business cases for major projects and programmes are being published consistently, meaning the public can have confidence that every pound of taxpayers’ money is being spent on projects that deliver the best possible value.

HM Treasury has published a report on its progress in implementing the conclusions of the Green Book Review in 2025. The report can be found here: https://www.gov.uk/government/publications/green-book-review-2025-one-year-on

Secondary information

Type
Written question
Reference
HL1947
Session
2026-27
Subjects
Public expenditure
Link
View this Written question on www.parliament.uk