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TfL has carried out both a social cost benefit analysis and a financial analysis of the proposed western extension to the central London congestion charging scheme. The socio-economic benefits of a western extension would depend on the level of charge and the sensitivity of driver responses. Monetary benefits relate to the time savings to road users experiencing reduced traffic delays, reduced waiting time for bus passengers, less fuel consumed and fewer accidents but do not include values for improved amenity that may accrue inside a western extension as a result of reduced traffic levels. The costs of set-up, re-let and operation of the scheme, the cost of additional buses and charge payer compliance costs.For an £8 charge the total socio-economic benefits balance the total costs and, with low costs and high driver sensitivity, could result in net socio-economic benefits of up to £110 million over ten years of operation. Under a £5 charge the net benefits are unlikely to cover the costs. Nevertheless, unmonetised benefits such as improved air quality, environmental conditions and quality of life also need to be taken into account.In terms of financial analysis, the total annual charge and enforcement revenues from a western extension are projected to be £40-60 million for a £5 charge and £60-80 million for an £8 charge. When set against the financial costs to TfL over 10 years, the proposed extension would be financially positive under a £5 charge under a scenario of low cost estimates and low driver sensitivity to the charge. Under an £8 charge the scheme would be financially positive for TfL for all scenarios (low & high costs and low & high driver sensitivities) and would produce net surplus revenue of up to £210 million (depending on the combination of revenue and cost outturns).