Chancellor Rachel Reeves has announced her support for the proposed third runway at Heathrow Airport, emphasizing its potential for significant economic growth and improved connectivity. She has requested that proposals for the expansion be submitted by summer. Business leaders, including EasyJet's CEO and Make UK's Stephen Phipson, voiced their support for the expansion's benefits. However, concerns were raised regarding contradictions in policy, stressing that concrete actions must follow the Chancellor's optimistic rhetoric to ensure businesses can thrive amid rising costs and economic challenges.
The UK's six million small businesses and start-ups will welcome the return of a positive drum beat for 2025 - but they will be keen to understand how the Chancellor's plans like the Oxford-Cambridge Growth Corridor will be implemented.
Stephen Phipson emphasized that the expansion of Heathrow is vital for driving economic growth by providing British exporters greater access to markets and encouraging inward investment.
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