| Abstract: | This paper provides an overview of issues involved in evaluating the long-term impacts of transport policy. It considers the effects of global warming, and the costs and benefits of action to reduce emissions of greenhouse gases. The overall case for such action rests on the choice of discount rate. The paper considers the relative effectiveness of taxes and regulations in controlling emissions from the transport sector, and contrasts direct action on road traffic with indirect action via policies to increase travel on public transport. After a brief mention of the issue of biodiversity, the paper concludes with some reflections on the political acceptability of different policies. |
