Thursday, 30 January 2025

Does a Third Runway at London's Heathrow Make Sense?

There's a discussion whether the UK Chancellor's support of a 3rd runway for London's Heathrow airport a) will boost economic growth and b) can be compatible with net zero undertakings. 'Answers' depend on who is asked (https://www.theguardian.com/environment/2025/jan/29/scepticism-in-whitehall-that-heathrow-plan-can-be-reconciled-with-climate-targets). In one sense, support for the 3rd runway is a reiteration of the old 'country being open for business' signal. The basic difficulty is that 'business' doesn't care. Various sections will use any argument to boost their bottom line. No announcement of being more concerned about the economy than the environment will change behaviour of bond and share dealers. The next bonus is all that counts.

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