A transfer payment, as the term suggests, is simply a transfer in money or kind made by one member or group in the community to others. Within the nation's territory, that is, all transfer payments are disregarded in evaluating public investment projects. This chapter considers first the unemployment benefits. Unemployment benefit, whether it is collected by the worker as of right from an insurance scheme, or whether it is wholly or partly government relief, is to be regarded, in a cost-benefit analysis, as a transfer from the earning members of society to the non earning beneficiary. The obverse of the benefits or direct subsidies received by unemployed persons is the direct taxes paid by employed persons and private firms. The thing that matters in the calculation of a project that creates additional employment is simply the opportunity cost of the otherwise unemployed workers, that is, the minimum sums necessary to attract them into working for the new project.