Oral Answers to Questions

Debate between Adam Afriyie and Paul Maynard

Thursday 24th October 2019 Commons Chamber

[Adam Afriyie (Windsor) (Con)]

15. What recent assessment he has made of the financial viability of the proposed Heathrow third runway.

[The Parliamentary Under-Secretary of State for Transport (Paul Maynard)]

My Department and the Civil Aviation Authority have conducted assurance work on the financing and affordability of expansion proposals. This has concluded that, so far as can be assessed at this stage and assuming current market conditions, Heathrow is in principle able to privately finance expansion, but we will continue to monitor this as plans mature.

[Adam Afriyie]

Given the compounding costs and constraints on a third runway at Heathrow, it seems unlikely that it will ever be built. What Heathrow has succeeded in doing is blocking its more competitive rivals from building extra capacity. In that light, when will the Government review their decision?

[Paul Maynard]

The airports national policy includes a requirement that any developers should demonstrate that their scheme is cost-efficient and sustainable, and that it seeks to minimise costs over its lifetime. It is a responsibility of scheme developers to follow the process set out in the Planning Act 2008 and to submit proposals to the Planning Inspectorate. We will consider the merits of potential schemes before referring them to the decision-making Minister with the recommendation.