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Heathrow’s controversial third runway is causing bankers a major headache, despite the fact that it has not yet been commissioned. According to experts at the British Airports Authority (BAA), the UK economy loses £1bn for every year that the runway remains unbuilt.

The London Chamber of Commerce, a business network representing companies throughout the capital, was quick to back up the BAA’s claims, valuing a third runway at £30bn, an incredible boost to the British economy.

Proponents of the plan have cited a continuing loss of commercial entities to the continent, with many international corporations choosing to fly from Charles de Gaulle in France, and from Amsterdam Schiphol in the Netherlands.

British Airways (BA), the flag-carrier of UK aviation, has threatened to suspend all short-haul flights if the proposal is blocked. Considering BA’s current financial situation, however, the airline may have to re-think its allegiances in the coming months.

Heathrow’s critics are well known. Politicians from both wings have been slugging it out, trying to shoehorn their way into the public’s good books.

The Liberal Democrat party claims that the economic boost will be enveloped by the cost of environmental maintenance - a task that could cost the government billions of pounds.

A widely publicised alternative to the third runway, a Thames Estuary Airport, would also do little for the government’s carbon footprint. Huge wetland areas could be drained, uprooting hundreds of species.

Not to be outdone, the Conservatives have pledged to scrap plans for an extra runway at Heathrow Airport – a decision that current leader, David Cameron, could come to regret if BAA figures prove to be correct.

Officials at Birmingham Airport, and the eco-warriors at Greenpeace, welcomed Mr. Cameron’s announcement.

In similar news, the demolition of Heathrow’s oldest terminal building began in earnest at the end of September, in anticipation of the construction of the new Heathrow East site, to be opened in 2013.