Gatwick report says lack of airport growth to cost £47bn
01.11.11
The Government's decision to block the expansion of the three largest airports in the south-east could cost the British economy £47 billion over the next 50 years, according to a report commissioned by Gatwick Airport. Produced by FTI Consulting on behalf of the airport, the report concludes ‘if there is no spare capacity the UK could be left behind other European countries that have much more capacity’.
The report adds that ‘the notion ‘rebalancing the economy’ will occur by stifling investment in the south-east is misguided and potentially damaging’. It argues, because the south-east is the ‘engine’ of the UK, stifling its growth will stifle UK growth.
Stewart Wingate, Gatwick Airport chief executive, said: ‘The report is a timely reminder of the important role aviation plays in supporting economic growth and the recovery. There is a growing consensus amongst the industry that capacity in the south-east is an issue. This is supported by the report which notes the conclusion from the DfT’s own projections airport capacity at Gatwick and across the South East will fill up by 2030.’
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