The UK’s busiest airport will get a third runway and a new terminal after confirmation by Chancellor Rachel Reeves today. Airport bosses have been pushing for the expansion for years, arguing that Heathrow’s capacity is full. They said the £14 billion expansion is needed to add 260,000 flights.

The cost of building a third runway at Heathrow Airport is estimated to be at least £14 billion and would be paid for by the airport owners, the BBC reported. However, the total cost could be much higher due to the cost of the associated road and rail infrastructure.

The government has backed the expansion of Heathrow Airport after years of heated debate, saying it could create 100,000 jobs. The move, alongside potential confirmation of the expansion of other London airports including Gatwick and Luton,

After the prime minister promised to clear 'regulatory weeds' form the economy, chancellor Rachel Reeves has given the nod to plans to expand Heathrow Airport.