This paper assesses the efficiency of cross-financing new motorway or rail projects from established toll motorways as an alternative to direct public subsidies. For new motorway projects a combination of short-run marginal social cost pricing and cross-financing is the best of the alternative...

This paper addresses methodological issues in cost–benefit analysis (CBA) regarding congestion charging schemes. Despite suspicion on the reality of travel time savings, it is argued that these savings are a conservative value of surplus gained from a congestion scheme. The methodology of...