Don't ruin new runway with tax raid, Gatwick boss tells Reeves [Yahoo! Finance]
EASYJET PLC S/ADR (ESYJY)
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Source: Yahoo! Finance
Just days after the Government approved a second runway at Gatwick , Stewart Wingate said the Chancellor must resist undermining the investment by increasing levies on airports, airlines and passengers in her autumn Budget. He fears that such a move would limit demand for flights at a time when Gatwick is expanding its capacity from 45 million passengers a year to almost 80 million. This will be done through its new £2.2bn runway, which Gatwick claims will create an estimated 14,000 jobs and add £1bn a year to the economy. Mr Wingate said: “Our plea is that now you have given us the decision to allow us to move forward with this project, please make sure that you put in place suitable levels of taxation that allow us to make this investment.” In particular, Mr Wingate is concerned about a proposed overhaul of business rates, which will lead to airports paying higher property taxes. Ms Reeves is expected to announce the specific rates that will take effect in England and Wal
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