- Pricing and telematics lead the charge as insurtech patents jump 40pc
- FCA puts general insurance pricing practices under review
- Volvo and Baidu reach agreement to produce autonomous vehicles
- Cyber and D&O exposures increasingly intertwined, Airmic report finds
- Arch selects Touchstone for cat risk modelling
CBI: Third runway at LHR great news for business
Written by staff reporter
After decades of debate, the Prime Minister has given the green light to expand the UK’s aviation capacity, which will come as an enormous relief to firms in every corner of the country, according to CBI president, Paul Drechsler.
“A new runway at Heathrow is really fantastic news, especially as the country has waited nearly 50 years for this decision. It will create the air links that will do so much to drive jobs and unlock growth across the UK, allowing even more of our innovative, ambitious and internationally focused firms, from Bristol to Belfast, to take off and break into new markets," he said.
The business group chief says the decision to go ahead must now be taken forward swiftly, giving businesses the confidence to invest as they tender for contracts and build supply chains.
“Our aviation capacity is set to run out as early as 2025, so it’s crucial we get spades in the ground as soon as possible to reap the benefits for jobs and growth, precisely when the country needs them most," Dreschler continued. “This project should form part of a long-term framework for aviation capacity for the whole of the UK. Pressing ahead with key infrastructure projects like this will provide not only a welcome economic stimulus, but will show the world that we are well and truly open for business as we negotiate our exit from the EU.”