A lack of airport capacity in London could cost the UK economy up to £31bn by 2030, according to a new report out today.
The Confederation of British Industry (CBI) said that over the time it will take to build a new runway, the country could lose up to £31bn in trade because of a lack of flights to the so-called Bric countries (Brazil, Russia, India and China) alone. The CBI also claimed that if there were further delays to expanding runway capacity, the UK economy would lose an additional £5.3bn each year after 2030.
The Airports Commission, chaired by Sir Howard Davies, said last week that the government should approve the construction of a third runway at London’s Heathrow Airport.
“Delaying the decision to build a new runway will have a very real economic cost for our country,” CBI deputy director-general Katja Hall will say today, adding: “The commission has been clear in its recommendation to the government, and so are we: get on with building it without delay.”