Over many years, the Business Council of Australia has promoted the importance of using cost–benefit analysis to evaluate major public expenditure and regulatory decisions, particularly in relation to infrastructure.
Policy Essentials: Cost–Benefit Analysis explains what we mean when we call for the use of a cost–benefit analysis and to raise understanding of the importance of conducting cost–benefit analysis for major public policy decisions, regulations and projects.
It includes a report authored for the BCA by Deloitte Access Economics titled ‘Familiarisation of the Cost–Benefit Analysis Framework’.
We hope this guide will help promote the discipline of cost–benefit analysis across Australia so that policy decisions are made in the best long-term interests of the community and that public money is spent wisely and efficiently.
The BCA ‘Policy Essentials’ occasional series provides practical resources to promote good public policy governance and practice in Australia.