What's to stop it being kept as a VFR only runway until finances improve?
The removal of the cross runway at Glasgow and now the cross runway at Prestwick will make a big difference to GA traffic. Prevailing wind at both is about 250deg - straight across runway 31 at PIK.
It also means that you can often get in and out much more efficiently without worrying about vortex wake.
Sadly it seems the bean counter mentality takes priority over the real world of flying.