Don’t take the pick-up in money growth too literally

Boris Johnson suggests closing Heathrow and building a new airport at either Stansted or the Isle of Grain. (He is distancing himself from his original ‘Boris Island’ idea.) There could be serious consequences for the M4 corridor, and perhaps other areas of economic outperformance such as Milton Keynes, the south midlands and Warwickshire. However the Mayor’s report lacks technical detail on this and other matters, and so is unlikely to convince the Davies Commission on its own.