The Effective Pre-School, Primary and Secondary Education (EPPSE) project is the first large-scale British study on the effects of different pre-school experiences on children's outcomes. It enables researchers to look at the impact of both pre-school education and pre-school quality not only on short-term education outcomes, but also on long-term education and possible future labour market outcomes for a cohort of individuals who did not have access to universal pre-school education. It is these long-term economic consequences that are the focus of this report. This report focuses on the long-term economic consequences of pre-school education and quality for educational outcomes at age 16, the last year of compulsory schooling. It uses these results to estimate: the likely difference in future employment and earnings outcomes that arise from pre-school education; and the likely overall costs and benefits to the exchequer of pre-school education. (author abstract)