What a total 'head in the sand, NIMBY please!' post! If you moved near a major international airport believing any financial promise or assurance about airport expansion could last 40 years, then you are too naive for this life! How can anyone predict that far ahead? Did you believe Blair's 'no new Income Taxes' assurance 10 years ago?
If we don't try and keep London as an aviation, customer friendly hub, then the ramifications will be severe. Numerous jobs will be exported to Europe, pilots, cabin crew, ground staff, local infrastructure, schools, shops, hospitals- all will gradually just not be there any more. All that spending and tax revenue will be absent. The gradual decline of good services which will go direct to Europe will mean City jobs will move over to europe. Financial, Insurance, manufacturing headquarters- they will all gradually and imperceptibly export themselves. We will barely notice it until one day Frankfurt or Amsterdam proudly announces it has overtaken London as the financial capital of Europe. By then it will be too late to arrest the decline. The pollution will still be created in Frankfurt or Amsterdam, not London, but what the hell- you will still be able to walk your dog in peace and quiet- you will certainly have time possibly being unemployed because your business is unsustainable in the UK.
We have to face it, the UK doesn't have a lot going for it. Highly taxed, grey weather, a loud troglodyte underclass, pollution, overpopulation, over priced, incredible crime, daft property prices. We have had employment and the chance to make something of yourself. Wooly-headed NIMBYs like you will consign us to a future of sliding down to the relative position of Greece if we don't make UKplc attractive to foreigners pretty quick, because it's getting GD ugly right now! Do not be alarmed- I will be watching from somewhere afar (and sunny) aghast how idiots threw it all away!