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Brexit hits Heathrow, UK consumers

Thursday, June 30, 2016 - 01:45

Britain is delaying a decision on a new runway at London's Heathrow Airport until a new leader of the governing Conservative party is elected. As Grace Pascoe reports, the news comes along with data showing consumer confidence tumbling in the days after the Brexit vote.

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Yet more fallout from the UK's vote to leave the EU. A long awaited decision on airport expansion at London's key international hub, Heathrow, pushed back until October at the earliest After the ruling Conservative party crowns a new leader. (SOUNDBITE) (English) FXPRO, HEAD OF RESEARCH, SIMON SMITH, SAYING: "It is not sending hugely positive messages and at the same time others are grabbing share, be that in Frankfurt, or the Middle East, they are grabbing that share of the global airline market." The post-Brexit vote political vacuum in both the UK's leading parties is doing little to reassure markets. Or consumers spooked by the Brexit decision. YouGov's index showing their confidence has fallen to its lowest since May 2013. (SOUNDBITE) (English) FXPRO, HEAD OF RESEARCH, SIMON SMITH, SAYING: "We will see a slowdown in Q3, we could well see growth in negative territory, modestly so, just because of the impact of the uncertainty... So bottom line, I don't see us bouncing back, I see us crawling back more to be honest, and that could take more towards the end of the year." And in the meantime, Britain's relationship with the EU remains in limbo. (SOUNDBITE) (English) FXPRO, HEAD OF RESEARCH, SIMON SMITH, SAYING: "Europe has dug its heels in over the last two days on the corner stones of the single market in terms of free movement of labour .... The market is clinging to some sort of deal but at the moment I don't know what that deal could be." Not that that will bother Boris Johnson, at least right now. The UK's most prominent Brexit campaigner OUT of the race to become Britain's next prime minister. In yet another unforeseen shock for Britain and its voters.

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Brexit hits Heathrow, UK consumers

Thursday, June 30, 2016 - 01:45