Paxboy:
This is a paper airport, proposed so as to make it look as if Johnson is doing something and to promote his desire to PM. But no one is doing anything.
There is no money.
Actually, counter-intuitively, it may be the 'lack of money' that ensures the airport is built.
CaMoron and his side-kick Cleggers will find themselves in an even greater recession in 2012 - one that will really bite and place another million on the jobless queue. Hint - take a look at the business pages, and try to spot any decent production company reporting profits; and I don't mean 'parasitic' elements like shops and local services.
What to do?
Well, one way out would be a national infrastructure programme, which is why just such a proposal was discussed recently.
George Osborne's £5bn gamble to stave off recession | UK news | The Guardian
Now Osborne is whistling into the wind if he thinks £5bn will turn the country around, it will take a minimum of £250 billion, carefully applied and not wasted as before. But where to get this money from, when times are tight?
Firstly he could claw back £10 billion a year from overseas aid.
Secondly the airport project comes with a promise of a payback on the sale of LHR.
Thirdly he is going to have to bite the bullet and go for more 'quantitive easing'.
They have already 'printed' £200 bn since 2008, but this did absolutely nothing, as it went straight to the banks and government simply to cover their bad loans. This has to be another £250 bn that is specifically earmarked for infrastructure projects, manufacturing investment, and high quality R&D - with not a Merchant Banker** in sight. (And then add to this the £130 bn saved from overseas aid and LHR)
And what infrastructure projects are most badly needed? Quite obviously, UK aviation is in need of a huge overhaul, to bring it into the 21st century - but what about that running sore known as Heathrow? ...... Hmmmm.
** Cockney rhyming slang.
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