Rachel Reeves, the UK Chancellor of the Exchequer, said that constructing a third runway at Heathrow Airport is "essential for the UK's economic growth." She made this assertion during a press conference on January 29.
"Third Runway at Heathrow Essential for UK's Economic Growth," said Rachel Jane Reeves. "A third runway at Heathrow would unlock further growth, boost investment, increase exports, and make the UK more open and more connected. We cannot duck the decision any longer."
Following a record number of passengers and a profit increase of 31%, Heathrow Airport executives have expressed concerns about constrained capacity. In 2024, Heathrow reported a record 83.9 million passengers, marking a 6% rise from the previous year and surpassing pre-pandemic levels. Cargo volumes also increased by 10%, indicating strong demand for international trade. Despite these figures, Heathrow's annual revenue declined by 3.5% to £3.6 billion due to lower airline charges set by the Civil Aviation Authority (CAA).