| An analysis of the economic benefits of the Plastics Free program would utilise both cost-benefit analysis (CBA) techniques and regional economic impact analysis to identify and quantify the anticipated benefits for the region and the State as a whole.
The first component of the economic benefits analysis would be carried out in accordance with best practice in applying cost benefit analysis. Hence it will involve establishing the ‘base case’ (no intervention) and all costs and benefits are to be measured relative to this.
Costs will include all capital and ongoing costs over time and benefits are valued by employing recognised cost-benefit analysis techniques in line with Queensland Treasury Guidelines (Queensland Treasury (2015), Project Assessment Framework). Costs and benefits will be modelled over an extended period and an appropriate discount rate will be applied to express the flow of costs and benefit values in present value terms. This enables the ‘benefit / cost ratio’ (BCR) to be calculated.
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