Bogus DfT accident values

For more than 20 years the DfT have published costs of casualty accidents and values of accidents avoided, for use when assessing road safety policies and spending.

Unfortunately the figures are wildy wrong, including large sums for lost output which (output being determined almost entirely by demand) is not lost, and by using First Year Rate fo Return, which no sane business would ever use instead of overall cost over the life of the equipment or project.

as will be set out here in detail.

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