Who owns Heathrow as Chancellor Rachel Reeves backs building a third runway?
Who owns Heathrow as Chancellor Rachel Reeves backs building a third runway?
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A third runway at London's Heathrow Airport has been supported by Chancellor Rachel Reeves as part of a new strategy to boost the UK's weakening economy. The Chancellor said that the expansion of Heathrow, which had been postponed for decades due to environmental concerns, would make Britain “the best-connected place to do business” in an address to business executives on Wednesday.
Ms Reeves also supported what she called “Europe's Silicon Valley” - a “growth corridor” connecting Oxford and Cambridge - as well as airport expansions at Luton and Gatwick. She added that Heathrow bosses has been “invited” by the Government to submit plans for a third runway “by the summer”.
Ms Reeves revealed that the government would also consider proposals to revive Doncaster Sheffield Airport as a regional airport and is anticipated to make decisions soon over plans for growth at Gatwick and Luton. However, the idea of a third runway at Heathrow is probably going to spark the most controversy. The Chancellor claims that the runway has the “potential” to increase GDP growth by 0.4 per cent by 2050, but environmental activists will probably put pressure on her to address a number of issues before it can be constructed.
She added that a third runway at Heathrow could be built and be in use by 2035. Heathrow is owned and operated by Heathrow Airport Holdings. Heathrow Airport Holdings was formerly part of the FTSE 100 Index and was formed after Margaret Thatcher privatised it and made it BAA plc.
