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If the third runway at Heathrow is eventually built, the financial benefit to the UK economy will be enormous. According to the BCC (British Chambers of Commerce), it would provide a boost of £21.7 billion to the economy through increasing the number of flights per day by 400.

The runway was just one of 13 transport projects that the BCC analysed. Altogether, these 13 projects would provide a boost of £85 billion to the UK economy. Heathrow, however, stood out as the project that provided by far the biggest individual financial benefit.

The BCC was concerned about looming spending cuts, and said that spending must not be cut on these important infrastructure projects. This comes despite both the present government and the Conservatives stating that they are going to have to make major public-spending cuts after the election.

The BCC worked out that the total costs for all of the projects came in at £29.8 billion. Although a large figure, this pales in comparison to the total benefit that the transport projects would bring to the economy in the long term. The money to fund the projects would be raised from the public sector and the private sector, with the public sector paying £3.2 billion per year for five years and the remaining £14.3 billion coming from the private sector.

The director general of the BCC, David Frost, said that cuts in transport infrastructure “must not become a politically convenient way to slash spending after an election”, adding that there are much bigger savings that can be made from larger budgets such as education and health.