Cebr Analysis of 2030 Ban

5  Centre for Economics and Business Research • Using a ‘social cost’ valuation of the benefits as proposed in the Stern Report rather than the government’s current valuation approach reduces the assessed NPV by £26 billion. • Assuming that investment could alternatively be made in generating widespread usage of low carbon fuels to replace existing fuels reduces the assessed NPV by £15 billion. It is conventional in policy analysis that where a policy appears to have assessed costs well in excess of the benefits that the policy at the very least needs to be scrutinised extremely closely to see if, on balance, it still makes sense. We strongly recommend that HMG commissions an independent analysis of the costs and benefits of the proposed policy and compare this to other viable options to see whether it should proceed with the proposed bans.