LCCI Welcome the Chancellor's Comments on Heathrow

Wednesday 29 January 2025 

Karim Fatehi OBE, Chief Executive of the London Chamber of Commerce and Industry said: "The Chancellor's comments on kickstarting economic growth match the ambitions of businesses across London and the UK. Measures that help London's firms attract more customers, invest in their future and continue to spread prosperity across the entire UK are essential to revitalise our economy.

"We welcome the Chancellor's decision to support expansion and the building of infrastructure across the entire UK, including in innovation hubs such as the Oxford Cambridge Growth Corridor which London businesses work with closely.

"In particular, we welcome The Chancellor's comments on airport expansion at Heathrow. Trade through airports is essential for London and the wider UK’s business community. Heathrow's role as a hub airport is crucial and unique and a third runway is much-needed. Our Green Skies report shows that four in five London business leaders agree that air connectivity is vital to London’s global competitiveness, international trade, and economic growth.

"Despite today's intervention from the Chancellor, we remain concerned that the Autumn 2024 Budget is still casting a shadow over our economy. The combined package of increased employer National Insurance Contributions, cuts to business rates relief, and minimum wage increases will create a challenging environment for businesses, and if growth is to extend to all corners of our economy, we must see policies introduced swiftly to mitigate them."

ENDS