Boris Johnson: prize for Thames Estuary airport is immense

At the launch of a report on Britain's airport capacity, the Mayor of London warned that Britain faces a period of economic stagnation unless a new international airport is built in south-east England.

The Government has ruled out expansion of London's existing airports, but Boris Johnson has lobbied for a new hub airport in the Thames Estuary claiming "the prize would be immense" for London if it were given the go ahead.

Environmental groups also oppose the new airport, which is estimated to cost between £40-50 billion.

Mr Johnson said: "There's no doubt that to do nothing will lead to economic stagnation. The Government must now grasp the nettle and begin serious plans for the multi-runway solution."

He added that developing the Thames Estuary airport, sometines referred to as 'Boris Island', should be viewed as a pillar in the Government's plan for economic growth.

The 100–page report also says that an extra hub airport would radically increase foreign direct investment into Britain from fast–growing developing countries. The report cites the example of France, which benefits from having more direct links with China and Brazil.