Govt backs Heathrow expansion to boost economic growth
Video Credit: ODN - Duration: 02:29s - Published
Govt backs Heathrow expansion to boost economic growth
The Government will back a third runway at Heathrow Airport as it looks to go “further and faster” on growth, the chancellor has announced.
In a speech in Oxfordshire on growth, Rachel Reeves said the west London airport’s expansion is “badly needed” because “for decades its growth has been constrained”.
Reeves stated that a third runway could increase potential GDP by 0.43% by 2050 and create more than 100,000 jobs.
Heathrow’s plan to build a third runway received parliamentary approval in June 2018, but has been delayed by legal challenges and the coronavirus pandemic.
Report by Faragt.
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Heathrow has submitted its latest plans for a third runway at Europe’s busiest airport. The total cost, including new terminals and infrastructure, will be £49 billion pounds. The airport says expansion will create up to 40,000 new jobs and add 0.43% to the UK’s GDP by 2050. However, the plans will face fierce opposition from locals, politicians and climate campaigners. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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