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Published on : Tuesday, June 27, 2017
The chairman of the National Infrastructure Commission has warned that the private investment required to build an additional runway at the UK’s congested hub would be stalled by a harsh break from the EU.
The other high profile infrastructure projects such as HS2, HS3 and Crossrail 2 could also be at risk as per the experts. Lord Andrew Adonis said that if they were to go for a hard Brexit which severs Britain’s trading ties with the continent, it would be like heading for a calamity as a country.
“It’s important that we have a Brexit that maintains Britain’s trading ties with the continent, and that probably requires a long transition period, so we can get a fully fledged trade treaty.
“These decisions on Brexit have a crucial bearing on infrastructure. Business will not invest for the long term if they think Britain is going down the tube. It’s as simple as that. The projects that will be most affected will be those that require immediate private sector investment – starting with Heathrow.”
After years of rigmarole, the Government took the decision in principle to expand the UK’s busiest airport in October last year. It still needs to be formally approved. Strangely, there was no mention about the expansion of the airport in the Queen’s Speech last week. It would be really dangerous if there is more delay in major infrastructure decisions.