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Andy Burnham's dithering over Heathrow expansion threatens billions in UK investment
Heathrow expansion plans face cancellation as UK PM Andy Burnham delays third runway approval.
In brief
Heathrow expansion plans face cancellation as UK PM Andy Burnham delays third runway approval. Heathrow expansion could be scuppered by UK PM Andy Burnham's delay in backing third runway by New Year, risking billions in investment. Originally reported by Dailymail.
Heathrow expansion threatens billions
Heathrow expansion plans could scupper billions of pounds-worth of UK investment as investors warn they cannot wait forever.
“cannot wait forever”
PM Andy Burnham delays third runway approval
Prime Minister Andy Burnham reportedly told transport secretary Heidi Alexander he is unconvinced about Heathrow's third runway expansion.
“unconvinced”
Heathrow boss warns of investment risks
Thomas Woldbye, Heathrow's boss, warned investors they could pull the plug on the £33billion expansion plans if PM Burnham doesn't back the third runway by New Year.
“pull the plug”
Third runway expansion details
The third runway would increase Heathrow's capacity to 756,000 flights and 150 million passengers per year.
“756,000 flights”
Investor concerns over timeline
Heathrow's shareholders want certainty on the expansion timeline, with Woldbye stating they need a level of certainty by year's end.
“level of certainty”
Heathrow's economic importance
Heathrow handles nearly £300billion-worth of goods annually, representing more than a quarter of UK trade by value.
“nearly £300billion”
Expansion backed by former government
Former premier Sir Keir Starmer's government initially supported Heathrow expansion to boost britain's sluggish economy.
“sluggish economy”
PM cites other airport expansions
PM Burnham cited recent £2billion investment at Birmingham airport, which will double passenger numbers to 30 million annually.
“£2billion”
Regional growth concerns
PM Burnham expressed concern that Heathrow expansion could concentrate economic growth too heavily in southern england.
“concentrate economic growth”
Expansion funding sources
The Qatar Investment Authority, Saudi Arabia's Public Investment Fund, and China Investment Corp are among those poised to bankroll the expansion.
“Qatar Investment Authority”
Timeline for expansion
Airport bosses aim to get planning permission by 2029, with construction expected within a decade of approval.
“2029”
PM's stance on expansion
PM Burnham has refused to confirm support for Heathrow expansion since moving into No10, citing recent airport expansions elsewhere.
“refused to confirm support”
Investor pressure timeline
Investors warn they cannot wait forever and could pull the plug on the £33billion expansion plans if PM Burnham doesn't back the third runway by New Year.
“cannot wait forever”
Heathrow's capacity growth
The third runway expansion would increase Heathrow's capacity to 756,000 flights and 150 million passengers per year.
“756,000 flights”
Heathrow's economic impact
Heathrow handles nearly £300billion-worth of goods annually, representing more than a quarter of UK trade by value.
“nearly £300billion”
Expansion funding timeline
The Qatar Investment Authority, Saudi Arabia's Public Investment Fund, and China Investment Corp are among those poised to bankroll the expansion by 2029.
“Qatar Investment Authority”
The key point
Heathrow expansion could be scuppered by UK PM Andy Burnham's delay in backing third runway by New Year, risking billions in investment.
