Healey backs pro-growth case for Heathrow third runway after Burnham ducks issue
Chancellor says government will study responses to public consultation, with airports being ‘big part of jobs and growth’ John Healey has said there is a pro-growth case for going ahead with a third runway at Heathrow despite the prime minister declining to back it. Healey’s predecessor as chancellor, Rachel Reeves, put approval of the long-planned runway at the heart of her “growth speech” last…
Chancellor John Healey has expressed support for the case of a third runway at Heathrow Airport, despite Prime Minister Andy Burnham not yet endorsing the project. Healey emphasized that airports have historically contributed significantly to job creation and economic growth, and he believes the case for a third runway at Heathrow is firmly rooted in this growth narrative.
The government plans to analyze responses from a recent public consultation on the matter. Healey's stance contrasts with Burnham's recent comments, which suggested the issue should be left to Londoners to decide. Heathrow's CEO, Thomas Woldbye, warned that investors could reconsider their backing for the £33 billion infrastructure project if the prime minister does not support it.
The airport's investors, including Qatar's investment authority, the French private equity firm Ardian, Saudi Arabia's Public Investment Fund, and Singapore's sovereign wealth fund, GIC, are expected to decide in the coming months whether to apply for formal planning permission. Healey, a strong advocate for economic growth, recently voted in favor of the third runway in the House of Commons in 2018 and is currently working on his October budget in London.
The IMF praised the UK for reducing its deficit, and the organization's managing director urged Healey to maintain his budgetary course. UK economic growth was noted to have continued in August, despite other major economies not taking similar steps.
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