This report reviews the existing research on the valuation of forestry with the aim of ensuring that forestry policy in England is based upon the best possible evidence. The study also considers the cost-effectiveness of delivering non-market benefits through forest policy.

The study was to undertake the following:

• Identify the key policy issues within the England Forestry Strategy and identify the rationale for government intervention. This involves building on the Economic Analysis of Forestry Policy in England (CJC Consulting, 2003) study.
  
• Identify key policy areas relevant to forestry policy and assess the reviews, strategies and research since the launch of the EFS.
  
• For each of the above identify the evidence used and assess whether it is the best available. The assessment would include examinations of the methodologies used.
  
• Identify relevant evidence which has not been used but which could be used to underpin existing forestry policy.
  
• Identify any gaps in the evidence.
  
• Identify the implications for forestry policy in England.