6. Identifying the need for intervention and developing policy options
Early in the policy making process EAU can help in understanding and identifying where government intervention is necessary and the economic rationale for it. Building on this they can advise on different options for government intervention and help to assess and quantify their potential impacts.
- impact assessments are required for regulatory interventions but can also be used as a tool for weighing up the costs and benefits of different options for policy
- business cases are used for assessing the need for, impact and viability of capital investments
- economists can provide advice on the economic rationale for government intervention and help you think through the costs and benefits of different approaches
- social researchers can help you to consider the impact of your developed policy options on individuals and how desired impacts may be increased and any negative impacts minimised
