London - On 5 June 2018, Heathrow Airport received approval from the UK Government for the construction of a third runway at its airport in Longford, England, outlined in the latest Airports National Policy statement tabled today by Secretary of State for Transport, the Rt Hon Chris Grayling MP. The proposed £14bn private investment is projected to create approximately 60,000 new jobs and double Heathrow’s cargo capacity, generating up to £74bn in economic benefits.
BAB welcomes the UK Government’s support of Heathrow’s case for a third runway, through which it can maintain its position as the UK’s only Hub airport and the largest port by value to markets outside the EU and Switzerland. The UK’s airports are critical in maintaining our connection with the world, both for business and tourism.
BAB has long been a vocal supporter of Heathrow’s case for expansion, outlining in its 2018 Policy Agenda its necessity as part of the UK Government’s Industrial Strategy as a driver for growth. Heathrow plays an essential role in the success and future of the UK-US economic relationship, which is worth over a trillion dollars in Foreign Director Investment (FDI) and over £160 billion in trade annually. Every month thousands of travellers from North America land in Heathrow. 87% of American business visitors repeatedly travel to the UK bringing substantial business with them.
Duncan Edwards, CEO, BritishAmerican Business said:
“Heathrow’s expansion comes at a critical juncture in Britain’s future. As the UK negotiates its future relationship with the European Union, and begins to redefine its position on the world stage, the approval of these plans deliver the message that Britain is open for business. We are delighted to that the Government, too, sees the value in Heathrow’s expansion and echo the Secretary of State for Transport’s vision “to build a Britain that is fit for the future.”
BAB hopes that the UK’s MPs will look to these plans with the same ambition and optimism that we do, and approve the National Policy Statement in a timely manner to ensure Britain, and the world, isn’t kept waiting.”