ABSTRACT
In the Member States of the European Union, public policy usually mandates that transport infrastructure projects should be selected on the basis of a full socio-economic evaluation, be tested against a hurdle rate of economic profitability and, where necessary, be supported by public funds by virtue of passing this hurdle. In any cross-border project where each jurisdiction is principally responsible for the funding of its national section, the evaluation of the project will be fragmented into separate national evaluations of the respective sections. Each national evaluation is perfectly defensible in its approach to the problem of determining the burden to be placed on the national taxpayer. It is unnecessary here to report the full set of results of the new European evaluation of the Paris-Brussels-Cologne-Amsterdam-London (PBKAL) established in Lost and Found or to rehearse all the steps by which that evaluation was established.
