The China Mail - UK backs third Heathrow runway in growth takeoff bid

USD -
AED 3.672501
AFN 65.000064
ALL 81.845006
AMD 366.463719
ANG 1.790365
AOA 918.000053
ARS 1524.859901
AUD 1.441743
AWG 1.8
AZN 1.702503
BAM 1.740887
BBD 2.024718
BDT 123.601406
BGN 1.683441
BHD 0.379014
BIF 3017.846811
BMD 1
BND 1.287196
BOB 12.108238
BRL 5.226601
BSD 1.005283
BTN 96.885459
BWP 14.221182
BYN 3.028221
BYR 19600
BZD 2.021781
CAD 1.421235
CDF 2309.999842
CHF 0.827225
CLF 0.024861
CLP 981.63996
CNY 6.704597
CNH 6.704675
COP 3319.26
CRC 459.303568
CUC 1
CUP 24.126252
CVE 98.374972
CZK 21.72865
DJF 179.008692
DKK 6.641785
DOP 60.065513
DZD 133.646986
EGP 52.307399
ERN 15
ETB 160.999933
EUR 0.88851
FJD 2.251302
FKP 0.757935
GBP 0.75675
GEL 2.594995
GGP 0.757935
GHS 11.777115
GIP 0.757935
GMD 73.49376
GNF 8843.452641
GTQ 7.679983
GYD 210.280831
HKD 7.846555
HNL 26.829955
HRK 6.696398
HTG 131.567938
HUF 327.69499
IDR 17889
ILS 3.07053
IMP 0.757935
INR 96.186967
IQD 1316.907959
IRR 1746539.000196
ISK 121.719916
JEP 0.757935
JMD 158.335114
JOD 0.708968
JPY 157.636495
KES 129.710071
KGS 87.446999
KHR 4055.000342
KMF 438.000282
KPW 900.000318
KRW 1350.830047
KWD 0.30886
KYD 0.837765
KZT 445.443338
LAK 22455.00029
LBP 89550.000036
LKR 332.213287
LRD 171.350167
LSL 16.694961
LTL 2.95274
LVL 0.60489
LYD 6.41498
MAD 9.803908
MDL 17.899089
MGA 4429.000244
MKD 54.808848
MMK 2099.878546
MNT 3598.367683
MOP 8.125398
MRU 40.075024
MUR 48.150235
MVR 15.449807
MWK 1737.000047
MXN 18.258799
MYR 4.084097
MZN 63.910072
NAD 16.650007
NGN 1328.780167
NIO 36.665034
NOK 9.617881
NPR 155.016734
NZD 1.7802
OMR 0.384502
PAB 1.005296
PEN 3.465503
PGK 4.449497
PHP 62.59902
PKR 277.049851
PLN 3.886295
PYG 5857.77038
QAR 3.64499
RON 4.746499
RSD 104.444011
RUB 83.373151
RWF 1483.390301
SAR 3.764198
SBD 8.064852
SCR 13.957083
SDG 601.515223
SEK 10.025065
SGD 1.278945
SHP 0.757461
SLE 24.597928
SLL 20969.491881
SOS 574.485509
SRD 37.672502
STD 20697.981008
STN 22.15
SVC 8.796002
SYP 13002.000254
SZL 16.643153
THB 33.573505
TJS 9.258616
TMT 3.51
TND 2.988767
TOP 2.40776
TRY 49.142005
TTD 6.819972
TWD 31.895101
TZS 2635.002986
UAH 45.139279
UGX 3991.27687
UYU 40.465
UZS 11820.000158
VES 865.477996
VND 25995
VUV 120.084308
WST 2.780871
XAF 582.824141
XAG 0.016277
XAU 0.000238435292
XCD 2.70255
XCG 1.811716
XDR 0.707052
XOF 582.824141
XPF 106.500433
YER 236.375025
ZAR 16.66661
ZMK 9001.19364
ZMW 19.768306
ZWL 321.999592
SSP 5712.591902
MXV 2.065951
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

UK backs third Heathrow runway in growth takeoff bid
UK backs third Heathrow runway in growth takeoff bid / Photo: © AFP

UK backs third Heathrow runway in growth takeoff bid

Britain's Labour government on Wednesday backed a plan for a third runway at London's busy Heathrow airport, with finance minister Rachel Reeves saying it would help grow the economy while respecting climate goals.

Text size:

"I can confirm today that this government supports a third runway at Heathrow and is inviting proposals to be brought forward by the summer," Reeves said in a speech, adding that a new airstrip "would unlock growth".

Despite opposition from environmentalists and some Labour MPs, Prime Minister Keir Starmer is determined to deliver major infrastructure projects to grow a UK economy that has struggled to take off since the party came to power in July.

Writing in The Times newspaper Wednesday, Starmer said the government would "kick down the barriers to building, clear out the regulatory weeds and allow a new era of British growth to bloom".

Heathrow, Europe's biggest airport by passenger numbers, welcomed a record number of travellers last year with the global aviation sector having recovered from the turbulent Covid years.

"A third runway and the infrastructure that comes with it would unlock billions of pounds of private money to stimulate the UK supply chain during construction," Heathrow chief executive Thomas Woldbye said in reaction to the government's backing.

Following years of legal wrangling, Britain's Supreme Court ruled at the end of 2020 that Heathrow could build a third runway, overturning a legal decision to block construction on environmental grounds.

While the Conservative government at the time said building work could begin in 2022, the project has been delayed by further obstacles and upheaval created by the coronavirus pandemic.

Building a new runway was priced at £14 billion a decade ago -- a sum estimated to have soared to tens of billions of pounds (dollars) in the wake of surging inflation.

"We will work with a private sector to deliver the infrastructure that our country desperately needs," Reeves added during her speech in Oxfordshire, north of London.

Vowing to go "further and faster" to kickstart the economy, she also unveiled plans to deliver a Growth Corridor between the university cities of Oxford and Cambridge.

The scheme providing improved transport links and affordable housing has the potential to be Europe's Silicon Valley and boost the UK economy by up to £78 billion ($97 billion) by 2035, the government said.

- Climate concerns -

Reeves said the government would "ensure that a third runway is delivered in line with our legal, environmental and climate objectives".

Energy Secretary Ed Miliband, who has previously opposed a third runway at Heathrow over environmental concerns, this week insisted that a new airstrip must not impact the UK government's goal of reaching net zero carbon emissions by 2050.

"There is much to welcome in the chancellor's speech... including her very important statement that there is no trade-off between economic growth and net zero, and that net zero is the industrial opportunity of the 21st century," said Bob Ward, an expert at the London School of Economics and Political Science.

He warned, however, that a third runway "should not proceed until the government shows exactly how it will be compatible with the UK's carbon budgets and net zero target".

The government is shortly expected to also back expansion at two other airports serving the capital -- Gatwick and Luton.

Labour has already approved upgrades to London's Stansted and City airports.

Britain's economy has stagnated in the almost seven months since the party ended 14 years of rule by the Conservatives in a landslide election victory.

Opposition lawmakers and some analysts have blamed the lack of growth on a decision by Reeves in her inaugural budget to hike business tax.

C.Smith--ThChM