Heathrow aiport expansion will result in £5 billion loss
Posted: 19 Apr 2010, 18:50
The Ecologist - 19/04/10
Calculations on the cost of building a third runway at Heathrow are outdated and do not make economic sense says a new report
Expanding Heathrow airport will result in a loss to the economy of £5 billion and lock the UK into a high carbon future, says a report from an independent thinktank.
The Government gave the green light for a third runway in January 2009, saying the economic benefit of the expansion to the economy would be £5.5 billion.
However, a report by the New Economics Foundation (nef) says this calculation did not take full account of all social and economic impacts and ignored the cost of additional noise and poorer air quality, congestion and community blight.
After taking account of these costs, the net result would be a £5 billion loss, nef argues.
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