Heathrow: Will a third airport runway help UK growth?

In terms of actual spades in the ground at Heathrow, the short answer is no.

A third runway has been on the cards for many years. It has also been kicked into the long grass on several occasions.

The argument in favour has always been an economic one. Large airports create jobs, promote trade and bring in both business travellers and tourists.

Heathrow currently handles £200bn worth of trade a year and – the airport’s owner would argue – provides a vital avenue for exports, particularly for small and medium-sized businesses.

But Heathrow’s infrastructure is straining at the seams.

Last year, a record 83.9 million passengers passed through its terminals with its two runways handling around 1,300 landings and take-offs every day.

Flights from the airport are currently capped at a maximum of 480,000 per year and in practical terms it has reached that limit.

A third runway would potentially increase the number of flights permitted to 720,000.

Expanding the airport would, in theory, provide an avenue for growth that simply isn’t there at the moment.

The construction project itself – the biggest privately-funded infrastructure scheme in Europe – would create thousands of jobs.

But a third runway at Heathrow is unlikely to become a reality for many years.