Delaying a third runway costs the UK economy £1bn a year

13.07.09

Building a third runway at Heathrow would add £30bn to the UK economy, according to a new study published today by the British Chambers of Commerce (BCC).

The report, entitled 'Economic Impacts of Hub Airports', forecast that building a third runway at the airport would deliver between £8.6bn and £12.8bn in increased productivity, and approximately £20bn in wider economic benefits, such as higher levels of employment.  Some 60% of this benefit is predicted to be outside London and the Sout East.

The research, which was conducted by leading economics and transport consultancy Colin Buchanan, on behalf of the BCC, reveals that each year the building a of third runway is delayed, the country loses between £900m and £1.1bn.

Lord Soley of Hammersmith, Campaign Director of Future Heathrow said:

"The report estimates that delaying a third runway at Heathrow costs the UK economy £1bn every single year.  Given the current economic climate, is this a cost we can afford to ignore?

He added:

"When a report estimates the economic benefits of a project at £30bn and there is private investment ready and willing to fund the entire development, then it is extremely difficult to claim the business case for a third runway doesn't stack up."

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