(6 years, 4 months ago)
Commons ChamberI shall seek to go under eight minutes if I can, Mr Deputy Speaker. I thank the Speaker for allowing me to speak from the Back Benches, given the direct impact of the proposal on my constituency and my constituents, who find the whole debate heartbreaking.
Occasionally in the House there are defining moments, and I think that this is a defining moment on a number of issues. It is a defining vote tonight. As we have heard in the debate, it is a defining vote, first, on climate change. The evidence from the Select Committee on Transport and others basically outlines the fact that if we are to tackle climate change, as the Committee on Climate Change said, we have to restrict the growth of aviation to 55%. However, as has been evidenced in the debate, it looks as if it might hit 90% or 100% by 2050. As a result of Heathrow expansion, that means that regional airports will have to be constrained or, as the Committee on Climate Change said, other sectors of industry will be constrained within our economy. To be frank, on past evidence we will not meet those targets, so we will jeopardise our potential to tackle climate change.
The second issue that has been raised in our discussions is whether we are going to tackle the grotesque inequalities of investment geographically across the country. Tonight, we have learned from some of the views that have been expressed that we will not do so. The economic benefits were announced by the Airports Commission: we were meant to gain £147 billion. The Government reduced that figure to £74 billion, then to £72 billion. Now we know that that was the gross benefit, and that the present net value ranges from £3 billion over 60 years to minus £2 billion. If there is a 1% delay in the project, that is completely wiped out. Costs will not be borne by Heathrow Airport Ltd, because it has a leverage rate—a debt to asset value—of 85%. If it expands that will be over 90%. When the Government—not with my wishes—privatised the National Air Traffic Services, we prevented companies from bidding if they went anywhere near 65%. Heathrow will not find the money—the cost will be borne by taxpayers. The biggest taxpayer burden will be the surface infrastructure, assessed by Transport for London as £15 billion.
That money will come from investments, but they will not be in London and the south-east, and we will see delays and the ending of investments in transport and infrastructure around the country. We have heard about the growth of regional airports being held back, but the proposal will hold back growth in road and rail, along with all the benefits of infrastructure.
Does my right hon. Friend not agree that the much needed infrastructure promised as part of this statement—the southern and western rail links, along with Crossrail—have been on the cards for many years, and are needed for the existing number of passengers at Heathrow?
It is an obvious point that we have made time and again in the House. We have been pressing for investment in infrastructure for the existing airport, but it has not been forthcoming.
We do not even know what the infrastructure plan is for the area. Last time, the infrastructure plan included a road through my local cemetery. We were meant to disinter the dead to enable access to Heathrow. We have still not seen the infrastructure plans. No wonder my constituents are angry about this. That is the third defining point. Does the House stand up for people and communities, especially working-class communities, or does it stand up to protect the interests of a corporate cartel that has ripped us off for decades? Ask how much—