IRRV Alert - week ending 28th August 2020
News
Consultations
Reports
Loneliness Monetisation Report (24 August 2020)
Research and analysis
Loneliness Monetisation Report
This report estimates the monetised impacts associated with loneliness stemming from subjective wellbeing, health and productivity
Published 24 August 2020
From:
Department for Digital, Culture, Media & Sport and Baroness Barran MBE
Documents
Loneliness Monetisation Report
PDF, 493KB, 17 pages
Technical annex- Loneliness Monetisation Report
MS Word Document, 234KB
Details
This report estimates the monetised impacts associated with loneliness stemming from subjective wellbeing, health and productivity. These are estimated using best-practice techniques endorsed by the HM Treasury Green Book. The findings can be used to facilitate comparison and assessment of interventions aimed at alleviating loneliness.
The combined wellbeing, health and productivity impacts associated with severe loneliness are estimated to be at least £9,976 per person experiencing severe loneliness per year.
Simetrica was selected to conduct this research.
It is important to note that the monetary values expressed in the report do not represent actual economic costs or savings to the public sector, but rather represent wellbeing in monetary terms (i.e. a reduction in loneliness from ‘severe’ to ‘moderate’ would have the same wellbeing benefit to the average person as a rise in income of £9,537 per year)
Published 24 August 2020