Volterra Partner, Paul Buchanan, is a transport economist with some 30 years experience in the planning, economic and financial appraisal of a wide range of public and private sector transport investments.
Paul has specific expertise in the development of the economic case for public transport projects; he has developed the approach to valuing Wider Economic Benefits (WEBs) for Crossrail (2001-2004), subsequently incorporated into UK appraisal guidance.
With extensive Australian experience having worked on HSR, Melbourne Metro, Adelaide LRT, Adelaide development forecasting and Cross River Rail in Brisbane, and most recently with TfNSW on Parramatta LRT and Burwood LRT.
Paul sits on the High Speed 2 Economic Advisory Panel (since 2012) and the Crossrail 2 Expert Panel (since 2014).
Paul has a broad background in transport policy advice and the application of pricing and legislative tools to achieve particular financial and policy objectives; he has solid understanding of the information requirements of investors and financial institutions with respect to investments in transport projects.
Economic appraisals of many important transport projects have been led by Paul, including: Crossrail and the Jubilee Line Extension in London, metros in Melbourne, Bangkok, Kuala Lumpur, Bogota and Shanghai and light rail schemes in London, Adelaide, Edinburgh, Manila, Kuala Lumpur and Budapest. Paul also has extensive highways experience from Penang Second Crossing to the Queen Elizabeth Bridge.
A review of Transport for London’s Business Case Development Manual in 2014 was also led by Paul. He has experience both of applying appraisal guidance across a wide ranges of countries and of developing and changing existing guidance – the two most notable instances being the development of WEBs and the valuation of public realm investments.
Paul is a well-respected lecturer to students and fellow professionals, and holds a First Class Degree with Honors in Economics from University of Exeter.