POST Online Media Lite Edition



 

Heathrow critical to Brexit success, says new report

Staff Writer |
The first post-Brexit report into the independent Airport Commission study has found that expanding Heathrow could boost UK GDP by up to £24,500 per family – almost double the value of expanding Gatwick.

Article continues below






The Centre for Economic and Business Research (Cebr), says Heathrow’s connectivity and cargo capacity mean the expanded airport will be an “engine of Brexit growth, driving opportunity up and down the UK”.

The report concludes that following the Brexit vote, if the Prime Minister opts for Gatwick, it “could be a political and economic gamble that could be costly for decades.”

Heathrow expansion could boost the UK economy by as much as £24,500 of GDP per family – £11,195 more than the equivalent figure for Gatwick. In all future scenarios modelled by the Airports Commission, GDP benefits per family ranges from £12,935 to £24,480 from Heathrow expansion.

Only Heathrow expansion has the potential to create over 100,000 new jobs outside of London and the South East.

In every region and every future scenario, it estimated that Heathrow could deliver more GDP benefits and more jobs than Gatwick. Northern Ireland, Scotland, Wales, the North West, Yorkshire and the South West all see significant job creation.

Up to £56bn more GDP than Gatwick outside of London. Helping to make Brexit a success, Heathrow’s connectivity to the world and to the UK’s great cities mean that for every region Heathrow expansion is estimated to deliver more economic growth and more jobs than Gatwick. An estimated total of £56bn more GDP benefits outside of London and the South East.

Heathrow could add 50,000 more jobs than Gatwick in the short term and almost 100,000 more jobs than Gatwick in the long term. The Airport Commission and CEBR found that Heathrow has the potential to create over 50,000 more jobs than Gatwick in the first 5 years of operation.

By 2060, Heathrow could create over 98,000 more jobs than Gatwick. Heathrow expansion has the potential to create an estimated 75,700 more jobs outside of London and the South East than Gatwick expansion.

Only the tax revenues following Heathrow expansion could fund a VAT cut to 15%. As an example of Heathrow’s role in the UK economy, the incremental additional tax revenue to 2030 created by a third runway, could allow the Government to hire 68,000 police officers or over 76,000 secondary school teachers.

Alternatively, the extra revenue by 2060 could be used to cut VAT by 2.5%,


What to read next

Heathrow growing thanks to emerging markets
Second cargo-only service to operate out of Heathrow
Traffic in Heathrow up 3.4%

Caterpillar Q4 profit decreases

 
Caterpillar revealed earnings for fourth quarter that decreased from last year.
 
 

Latest

Novartis Q4 income declined 91 percent
GSK Q4 profit climbs
UK ready to boost CPTPP’s economic clout, says Trade Minister on Asia-Pacific visit
Commission approves €1.6 billion Romania measure to capitalise new investment and development bank

NEWS

Fire put out at South Korea's space centre during test for next generation space rocket

Submarine volcano erupts in Vanuatu
UK faces fresh mass strikes
Reported death toll due to bad weather 44 in Philippines
After 1,400km long search missing radioactive capsule from Rio Tinto found in Australia
U.S.: Dangerous ice storm for portions of south
 

BUSINESS

Mayor Lightfoot celebrates completion of Terminal 5 at O’hare International Airport

Sustainable Energy Fund for Africa grant to drive electric mobility shift in 7 African countries
Battery-only electric passenger cars: +76% in Europe in 2021
UK drivers warned to keep eye on pump prices
Biden presents work on Baltimore tunnel, 72,000 new jobs expected
2022 Corruption Perceptions Index: Corruption levels remain at standstill
 

Trending Now

South Africa authorises roll out of COVID-19 boosters to fight Omicron variant

After 1,400km long search missing radioactive capsule from Rio Tinto found in Australia

Battery-only electric passenger cars: +76% in Europe in 2021

GM and Lithium Americas to develop U.S. lithium production through $650 million deal


POLITICS

UK Government backing helps launch world first self-driving bus

Commission approves €104 million Croatian scheme to support energy-intensive companies
Canada invests in BHP project to develop world-leading low-emissions potash mine
New York: Over $22 million awarded in Round XII of Regional Economic Development Council Initiative
Russia, China draft agreement on construction, operation of gas pipeline across Ussuri River
Azerbaijan, Hungary sign memorandum of cooperation in gas sector
 

Today We Recommend

Biofertilizers market to surpass $5.71 billion


Highlights 

Novartis Q4 income declined 91 percent

GM and Lithium Americas to develop U.S. lithium production through $650 million deal

Biden presents work on Baltimore tunnel, 72,000 new jobs expected


COMPANIES

HVS awarded share of £6.6m government funding to develop world’s first self-driving hydrogen HGV

GM and Lithium Americas to develop U.S. lithium production through $650 million deal
Dole announces sale of its fresh vegetables division to Chiquita subsidiary Fresh Express
ExxonMobil awards FEED for world’s largest low-carbon hydrogen facility
Metronet begins construction of Daytona’s multi-gigabit 100 percent fiber optic network, will hire
Boeing to deliver last 747
 

CAREERS

Exothera appoints Darren Leva as chief business officer

Vesta taps Shimon Steinmetz as CFO
Bruno Ultra Barcelos appointed managing director of Ethypharm UK
Syntach names Patrick NJ Schnegelsberg as new CEO
Chiesi appoints Giuseppe Accogli as new group CEO
Foresters Financial Canada president Henry Auyeung to retire
 

ECONOMY

Italian economic growth stronger than expected in 2022

UK shop prices record high, peak still to come
GDP up by 0.1% in euro area and stable in EU
Portuguese economy sees fastest growth for 35 years in 2022
Canada's real GDP edged up 0.1% in November
Hungary: Economic sentiment ticks up in January
 

EARNINGS

Phillips 66 Q4 earnings $1.9 billion

McDonald's Q4 profit increases
Pfizer Q4 profit increases
General Motors Q4 profit up
Exxon Mobil Q4 earnings $12.8 billion
UBS Q4 profit rises
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Ukraine opens Canadian, Serbian markets for export of livestock products since year beginning

Egypt intends to buy more wheat from Russia, working on system to pay in rubles
Rosselkhoznadzor stopped shipment of infected oats from Irkutsk to Mongolia
Philippines: ORION Program targets to perk up onion industry, increase domestic supply
Belarus lifts restrictions on food exports to neighboring EU countries
Argentina added new market: Algeria enabled export of meat with bone
 

LEADERSHIP

Lucky CEO means bad luck for hiring company

Product images could boost food pantry use
The madness of fast service: I want it now!
How to build a resilient brand
Only 32% of employees believe their pay is fair
Corporate duty waivers limit organic company growth and innovation
 

CRIME

AG for District of Colubia: $1,950,000 available for eligible Drizly drivers as result of tip-theft investigation

North Carolina: 52 stores pay fines for price scanning errors in 33 counties
EAO issued third fine for Coastal GasLink project
Dutch central bank fines cryptocurrency exchange Coinbase 3.3 mln euros
Bloomberg to pay $5 million for misleading disclosures about its valuation methodologies for fixed income securities
Italy fines Yoox with over 5 million euro for misleading prices and limitations of right of withdrawal
 

Magazine

TRAVEL

La Chandeleur in Paris: Crêpe Day for all of you

Tru by Hilton Monterrey Fundidora hotel opens in Mexico
IntercityHotel Berlin Airport BER opens
Art After School, the perfect way to spark imagination in your child
The world's biggest food fair in Berlin you don't wanna miss
Largest antiques show comes to small Texas town
 

SEA, LAND, AIR

Honda Pilot TrailSport, fully equipped SUV with great ground clearance

2024 Corvette E-ray, electrified 4WD
Jaguar I-PACE is now more distinctive
2023 Toyota Prius expected this January
2023 Lincoln Corsair, advance features and ActiveGlide
Lamborghini Huracán Sterrato, first super sports car for any terrain
 

DESIGN

Curved sofas, elegant and gentle

Solios watches, from nature to luxury
Coats of faux fur, but not of faux style
Redifining kitchen space and experience with workstations
Dinning sofas, a soft addition to a modern dinning table
Patchwork carpets, vintage Persian carpets made with unparalleled skill
 

GADGETS

Harman Luxury Audio introduces new JBL Classic Series

KEF KC62, audio excellence and design ingenuity
Panasonic announces flagship OLED TV MZ2000
McIntosh MC451, 150 Watt vacuum tube and 300 Watt solid state amplifier
Headonia 2A3, luxury headphone amplifier that comes with gloves
ASUS launches ExpertBook B9 for executives
 

HEALTH

South Africa authorises roll out of COVID-19 boosters to fight Omicron variant

FDA approves Orserdutm for patients with advanced or metastatic breast cancer
Indonesia to start rolling out COVID-19 vaccination for children under 6
Ipsen receives CHMP negative opinion for Palovarotene as treatment for fibrodysplasia ossificans progressiva in EU
Once-daily Sotyktu gets positive opinion as treatment for adults with moderate-to-severe plaque psoriasis
EMA update on shortages of antibiotics in EU
 

MEANTIME

Green comet to visit Earth after 50,000 years

Astronomers captured spectacular, ongoing collision between at least three galaxy clusters
NASA system predicts small asteroid to pass close by Earth this week
NASA, Pentagon developing nuclear-powered rocket for Mars
Milky Way found to be too big
Earth's inner core rotation paused