| Thanks for linking the CBA. I hadn't seen that before > "The headline finding from this social CBA is that for every €1 of public money invested in the pilot, society received €1.39 in return" Okay, so if you read the CBA, the net fiscal cost of the pilot was: * Gross pilot cost (2021–2025): ~€114 MM * Tax revenue: ~€36 MM * Social protection savings: ~€6.5 MM * Net fiscal cost: ~€72 MM So for every €1 of public money invested in the pilot, society received 37¢ in fiscal return. So it's an unambiguous fiscal cost, a net loss. Of the "Total monetised benefits", €80 MM of the benefit was in "wellbeing gains", as measured by the WELLBY test, which is calculated based on a single survey question: > “Overall, how satisfied are you with your life nowadays, where 0 is "not at all satisfied" and 10 is "completely satisfied"? The €80 MM in "wellbeing gains", which is the sole decided of whether this pilot was a net positive or a net negative to society, is because on average, the 2,000 pilot scheme participants had a very approximate 0.7–1.1 increase in score when asked the above question during the pilot as compared to before the pilot. Each 1 point is deemed to be worth €15,340. That's it. There's no economic return - it's a proven economic cost. There's no proven social benefit. No demonstrated effect on art prices or availability. The pilot was successful - if you consider it to have been - solely because the artists who received payments as part of the pilot had an improvement in Wellby satisfaction score when they were asked via survey. If you remove this factor, the pilot was an abject failure. |
You know what would have been a worthwhile use of that €114 MM? Improving the pay and conditions of our naval personnel. That way, the nation might now be able to put more than one patrol boat out to sea at a time.