We support colleagues in other parts of the GMCA to appraise and decide upon applications for funding from Greater Manchester’s various investment pots. We assess the contribution applications will make to Greater Manchester’s strategic aims, and we use our appraisal and cost benefit analysis skills and expertise to quantify the return on investment that applications will offer to Greater Manchester in terms of increasing economic growth and improving social outcomes. We are also involved in the monitoring and evaluation of projects and programmes that have received funding, helping to ensure they deliver maximum benefit to Greater Manchester.
Cost Benefit Analysis
The GMCA Research Team (formerly New Economy) has pioneered the development of a cost benefit analysis (CBA) methodology that has become nationally leading in its approach to articulating the fiscal, economic and social value of interventions. The methodology has been subject to an ongoing process of development since it was initially developed in 2011, and was adopted as supplementary guidance to HM Treasury’s Green Book (opens in a new window) in 2014. Representatives from a range of central government departments have supported the development process, and remain engaged in further refinement of the model and accompanying resources.
Tax and Spend Tool (ESPRESSO)
Developed by New Economy (now the GMCA Research Team) in 2015, the tax and spend tool examines the total expenditure by the public sector and total tax generated, per UK local authority district area. It has since been expanded from an original focus on Greater Manchester to include the whole of England.