§ Mr. MaudeTo ask the Secretary of State for Transport pursuant to the answer of 11 September 2003,Official Report, column 372W, on runway capacity, what the net economic benefit would be from building a new wide spaced runway at Gatwick, counting only benefits to UK residents. [135219]
§ Dr. HowellsThe net economic benefits, to UK residents only, of building a new wide spaced runway at Gatwick, over and above the benefits from maximum use of existing capacity at south east airports, is approximately £2 billion, assuming all costs and benefits are discounted at 3.5 per cent. from 2000 to 2060. This estimate also takes into account a three year delay in benefits and includes a 44 per cent. increase in costs to reflect the risk in estimating costs for engineering works.