Government welcomes Heathrow investment, expected to secure thousands of steel jobs

The Government has welcomed a new multibillion-pound investment programme from Heathrow Airport, which is expected to secure thousands of steel jobs across the country by driving demand.

Heathrow will invest billions in an expansion programme for new terminal buildings, aircraft stands, passenger infrastructure and its third runway plans, marking a vote of confidence in the Government’s plan for growth after the Chancellor confirmed the Government’s backing for expansion last month.

At an event hosted at British Steel’s Scunthorpe plant today (12th February), Heathrow will also sign the UK Steel Charter, which signals the airport’s commitment to use UK-made steel wherever possible as part of its investment programme.

The commitment should help secure thousands of existing steel jobs both at Scunthorpe and across the country.

By its completion in 2008, the construction of Heathrow Terminal 5 had required 80,000 tonnes of steel, and estimates suggested construction of a third runway could require 400,000 tonnes.

Industry Minister Sarah Jones is expected to give a keynote speech at Heathrow’s launch event today to welcome the announcement as a step forward in the Government’s growth mission, with new investment crucial to kickstarting the UK’s economic growth and putting more money in people’s pockets, delivering on the Plan for Change.

Jones said: “This investment is the latest in a long line of wins which our Plan for Change has helped deliver, and not only secures thousands of jobs but marks a major vote of confidence in our homegrown steel sector and this government’s Industrial Strategy.

“Driving demand for UK-made steel is a crucial part of our upcoming Steel Strategy, and by signing the Steel Charter Heathrow will give a huge boost to steelmaking communities across the UK and help us kickstart economic growth.”

Alex Veitch, director of policy at the British Chambers of Commerce, said: “Expanding capacity at Heathrow is a key part of accelerating economic growth – and today’s announcement is great news for British business.