If a third runway is built at Heathrow, what will be the impact on the wealth of the nation? It will cost us somewhere between £23.4bn and £62.5bn. These are not my figures; they weren’t calculated by environmental groups, but by the Department for Transport.
For decades, government ministers have told us that airport expansion is essential for “growth”. As chancellor, Rachel Reeves claimed that a third runway at Heathrow would add 0.43% to GDP, figures we later discovered came from a report commissioned by the airport. The transport department’s own analysis concluded that the real addition to GDP would be between 0.03% and 0.05%: eight to 14 times less. Against this, it weighed the social and environmental costs of the project, to reveal a massive net loss. It found that a third runway would cause major harm to the health and wellbeing of up to 3 million local people.
