Last week, the Government endorsed the independent Airports Commission’s recommendation for a new Northwest Runway at London Heathrow Airport. This is a momentous moment for the future of our country, as the new runway is a significant part of the Government’s plan to build a global, outward looking Britain and an economy that works for everyone. An expansion of Heathrow is much better for the South West than an extra runway at Gatwick.
An expanded Heathrow will better connect people and businesses to new long haul destinations and growing world markets. It will create thousands of jobs, boost our economy and help secure the UK’s position globally. A new runway will deliver up to £61 billion of benefits to passengers and the wider UK economy. Passengers will benefit from a greater choice of airlines, destinations and flight times, and new airline competition will cut fares relative to no expansion even after taking into account the costs of construction.
The new runway will be the latest step in a series of major infrastructure investment decisions. In addition to the new runway, the Government has committed to deliver over £7 billion of investment in road and rail infrastructure in the South West of England. This will include electrifying the Great Western Mainline from Paddington to Bristol, and £2 billion to improve strategic roads in the South West.
Alongside the third runway at Heathrow, these investments in South West infrastructure will allow an extra 1.5 million passengers a year to make trips to and from the South West, taking advantage of the greater choice of direct international connections offered by an expanded Heathrow. It will be quicker and more convenient than ever before to get from the South West of England to anywhere in the world in just a few hours.
This hasn’t been a simple process or an easy decision; the UK hasn’t built a new full-length runway in the South East since the 1940s. I am therefore pleased that the Government has taken the time to get it right and ensure that we can maintain our global competitiveness and make our economy stronger. Without action, we will fall behind our European and global competitors, and the decision to approve a third runway will put this right.