As the Airports Commission’s consultation deadline nears, new figures released by Heathrow show how an expanded Heathrow could benefit every UK nation and region.
The independent report by QUOD, commissioned by Heathrow, says that over half the gains from forecasted economic benefits and job creation will be made outside of London and the South East.
Regional employment benefits as a result of foreign investment and trade could total 179,800 new jobs across the UK in 2050, as long haul connections and increased freight capacity at an expanded Heathrow bring more business to the UK.
Trade is likely to play a big part in economic growth, with towns and cities across the rest of the country currently benefitting from nine times more employment from foreign investment in manufacturing than those in London and the South East. Scotland, Wales and Northern Ireland are expected to lead the way in research and development and the digital technology field, experiencing the greatest benefits from increased employment in these sectors.
Heathrow say the report adds new detail to the findings of the Airports Commission in its interim report last year, which also confirmed an expanded Heathrow would deliver the best economic outcomes for regions.
It is based on the Airports Commission’s baseline scenario for future growth. Further scenarios developed by the Commission estimate the total economic benefit of Heathrow expansion at £211 billion across the UK, almost £65 billion more than the baseline adopted for this report, demonstrating that significant additional value could potentially be secured.
John Holland-Kaye, CEO, Heathrow, said: “The verdict is in – expansion of Heathrow will be best for every region and nation of the UK – more jobs and more economic growth. That is why 28 chambers of commerce from up and down the country are backing Heathrow, together with unions, businesses and local people. Only Heathrow can help to grow and rebalance our economy by connecting all of Britain to global growth. An expanded Heathrow can be the most modern, efficient, sustainable and best connected airport in the world – attracting more business, more investment and delivering more jobs and growth that the whole country can benefit from.”