Professor Eoin Reeves:

True. One will always be able to shoot holes through the analysis but at the end of the day, I would argue - I teach this stuff - it is better than no analysis at all. When one is talking about investing approximately €3 billion of taxpayers' money, it has to be legitimately supported by a cost-benefit analysis. That happened in this case, but the value of the CBA depends largely on the scrutiny.