Heathrow promises it makes at its “Business Summits” – next in East Midlands – exaggerated & based on flawed projections
Heathrow is holding another of its "Business Summits" on 23rd November, in Derby. The aim of these is to excite regional businesses about how much they could benefit from the building of a 3rd runway. However, while Heathrow claims there would be huge financial benefits for the whole country - using wildly exaggerated figures, the reality is very different. Heathrow persists in using a crazy figure of "up to £211 billion" economic benefits, even the DfT's own reports indicate at most about £3.3 billion. That would be the "Net Present Value" over 60 years, for the whole of the UK, after taking off costs. The figure could be as low as minus (yes, a negative number) 2.2 billion. These are government figures, not numbers from anti-Heathrow campaigners. The 3.3 bn figure translates to under 50p UK resident per year. (ie. £3.3 bn divided by 70 million). It is difficult to see how such paltry benefits could "play a major role in boosting jobs and growth in the regions" outside of the South East, as Heathrow claims. The CBI’s 2016 report "Unlocking Regional Growth" identified that businesses want direct flights to centres of trade and commerce (i.e. without transfer before reaching their destination); in other words, that it will be through direct flights to the closest airports that the Midlands will become better connected. Not via Heathrow.
22 Nov 2017