A new emphasis on economic instruments

The Government's second anniversary report on the 1990 White Paper on the environment had little new to offer - other than a resounding commitment to use economic instruments in place of regulation wherever possible.1 But the introduction of few, if any, of the economic instruments which are the Government's top priorities appears to be feasible before 1995.

Enthusiasts for economic instruments must lately have been wondering whether their promised place in environmental policy would ever come. Three years after the Department of the Environment (DoE) issued the Pearce report on environmental economics, and two years after the Government undertook in its White Paper on the environment to pursue "with vigour" the opportunities presented by economic instruments, there is precisely nothing to show fo

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