Business
Ministers yet to seek climate advice on Heathrow expansion
Joshua NevettPolitical reporter
PA MediaThe UK government’s climate change advisory panel has said it has not yet been asked to formally assess how plans to expand Heathrow airport would impact on carbon emissions targets.
The Climate Change Committee (CCC) told the BBC it would give a view on plans to build a third runway at Heathrow if advice was requested.
The government said the expansion must not breach the UK’s legally binding target of lowering emissions to net zero by 2050.
The CCC is required by law to assess whether the target will be met and it has repeatedly cautioned against airport expansion.
The government said it was assessing initial proposals on Heathrow expansion and would engage with the committee during the process.
Ministers can ask the CCC for ad-hoc advice on specific policy issues but is under no legal duty to follow it.
Lord Deben, a former CCC chairman, said there was “limited space for aviation growth” without emissions reductions.
“If they give planning permission for expansion of Heathrow that inevitably means there will be less opportunity for other airports in Britain,” Lord Deben said.
“This must be a sensible, logical decision and the CCC must be involved in giving advice.”
Greenpeace UK said there was an obvious need for independent experts at the committee “to assess the real risks and costs of any expansion”.
“Any attempt to side-step them would show a complete lack of confidence in Labour’s stated position regarding the tests a new runway needs to pass, and more importantly, miss the legal requirement for UK carbon reductions,” Dr Douglas Parr, policy director for Greenpeace UK, said.
The CCC also told the BBC it had not been asked to provide advice on any future expansion of Gatwick Airport.
A decision on a proposed second runway at Gatwick is expected in the coming weeks after Transport Secretary Heidi Alexander said she was “minded to approve” the expansion in February.
Chancellor Rachel Reeves announced the Labour government was backing plans for a third runway at Heathrow in January this year.
Reeves said Heathrow expansion, delayed for decades over environmental concerns, would “make Britain the world’s best connected place to do business” and boost economic growth.
At the time, the government said the expansion “must be delivered in line with the UK’s legal, environmental and climate obligations”.
The expansion of Heathrow has long been opposed by green groups and it is expected to face resistance and probably legal challenges, not least because of its environmental impact.
In July, the CEO of Heathrow Airport, Thomas Woldbye, insisted the expansion proposal was in line with the aviation industry’s target to be net zero by 2050.
But he acknowledged that planning permission would not be granted by the government unless legal limits of emissions were adhered to.
The government wants to review planning guidelines that will shape its decisions to expand Heathrow, Gatwick and other major airports.
Giving evidence to MPs this week, the CCC’s chief economist, Dr James Richardson, said it wasn’t too late to influence the review, which has not been launched yet.
But Labour MP Barry Gardiner said he was seriously worried the CCC was “acquiescing in what the government is planning for aviation”.
He questioned why the government had not sought the CCC’s advice before announcing its support for Heathrow’s expansion.
ReutersThe Climate Change Committee gave its most recent advice on aviation emissions in the Seventh Carbon Budget.
The budget, published in February, said the sector can reach net zero through the roll-out of sustainable aviation fuel, the electrification of planes, and managing growth in demand for flights.
But the committee suggested limiting airport expansion to reduce emissions and warned the development of low-carbon aviation technologies was “uncertain”.
“The aviation sector needs to take responsibility for its emissions reaching net zero by 2050,” the committee said.
“The cost of decarbonising aviation and addressing non-CO2 effects should be reflected in the cost to fly. This will help manage growth in aviation demand in line with net zero.”
A Department for Transport spokesperson said: “The government is assessing initial proposals on Heathrow expansion – a significant step towards unlocking growth, creating jobs, and delivering vital national infrastructure to drive forward our Plan for Change.
“The assessment of proposals is being conducted to support the forthcoming Airports National Policy Statement review, and we will engage the Climate Change Committee throughout this process.
“We have been clear any airport expansion proposals need to demonstrate they contribute to economic growth, can be delivered in line with the UK’s legally binding climate change commitments, and meet strict environmental requirements on air quality and noise pollution.”
Additional reporting by BBC transport correspondent Katy Austin
Last Updated:
Indian equity benchmark indices, Sensex and Nifty, are expected to open higher on Tuesday, tracking strong global cues.
Indian equity markets
Benchmark equity indices staged a strong rebound on Tuesday, closing higher on the back of solid gains in IT and auto stocks.
The BSE Sensex recovered 747 points from the day’s low of 83,124.03 to settle at 83,871.32, up 335.97 points or 0.40 per cent. Similarly, the Nifty50 climbed 120.6 points, or 0.47 per cent, to end at 25,694.95 after bouncing back 245.7 points from its intraday low of 25,449.25.
On the BSE, Bharat Electronics (BEL), Adani Ports and Mahindra & Mahindra (M&M) emerged as the top gainers, while Bajaj Finance, Bajaj Finserv and Tata Motors PV were among the biggest drags.
Across the NSE, IndiGo, BEL and M&M led the gainers’ pack, whereas Bajaj Finance, Bajaj Finserv and ONGC were the top losers.
Broader markets ended mixed — the Nifty Midcap 100 gained 0.50 per cent, while the Smallcap index slipped 0.21 per cent.
Sectorally, Nifty IT and Auto were the best performers, advancing 1.20 per cent and 1.07 per cent, respectively. On the other hand, Nifty PSU Bank was the only notable laggard, slipping 0.39 per cent.
Among sectoral indices, Nifty Financial Services fell 0.7%, and Nifty PSU Bank declined 0.5%, dragging the overall market sentiment.
Global Cues
Global sentiment improved after US President Donald Trump said his administration is working on “a very different deal” with India compared with past negotiations. “They don’t love me, but they will love us again. We are getting a fair deal — just a fair deal,” Trump said on Monday.
Across Asia, markets advanced following Wall Street’s strong overnight rally. Japan’s Nikkei 225 gained 0.56%, South Korea’s KOSPI rose 2.24%, and Hong Kong’s Hang Seng was up 0.4%.
In the U.S., equities surged on Monday, led by AI-heavyweights Nvidia and Palantir, as optimism grew over progress toward ending the record U.S. government shutdown. The S&P 500 climbed 1.54%, the Nasdaq Composite jumped 2.27%, and the Dow Jones Industrial Average added 0.81%.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
November 11, 2025, 09:13 IST
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The UK’s jobless rate has hit its highest level outside the pandemic era for nearly a decade as experts said the further evidence of a weakened labour market made a year-end interest rate cut more likely.
Official figures showed the rate of unemployment surged to 5% in the three months to September, up from 4.8% in the three months to August.
The Office for National Statistics (ONS) said that, with the skewed levels seen during the Covid-19 years stripped out, this was the highest seen since August 2016.
The ONS said average regular wage growth also pulled back again, to 4.6% in the three months to September, down from 4.7% in the previous three months.
Experts said the weaker-than-expected figures reinforced the case for the Bank of England to cut interest rates next month.
Martin Beck, chief economist at WPI Strategy, said: “With pay growth slowing further, the data strengthen the case for the Bank of England to cut interest rates next month.”
He warned that the “prospect of new tax rises in the upcoming Budget poses further risks to employment, particularly if the Chancellor again looks to raise taxes on businesses”.
Mr Beck added: “But this time, Rachel Reeves is more likely to target earners rather than employers.”
The pound slipped back, down 0.4% to 1.313 US dollars and 0.4% lower at 1.135 euros, as financial markets increasingly bet on a year-end rate cut.
The ONS said earnings are still outstripping inflation, although by a smaller margin, with real wages 0.8% higher after taking Consumer Prices Index (CPI) inflation into account, down from 0.9% in the previous three months.
In further evidence of a tough jobs market, the ONS estimated the number of workers on UK payrolls fell by 32,000 during October to 30.3 million, following an upwardly revised 32,000 drop the previous month, although the numbers are subject to further revisions.
This was the largest two-month drop since late 2020, economists said.
ONS director of economic statistics Liz McKeown said: “Taken together these figures point to a weakening labour market.
“The number of people on payroll is falling, with revised tax data now showing falls in most of the last 12 months.”
There was one bright spot in the data, with vacancies rising for the first time in more than three years – estimated to be up by 2,000, or 0.2%, to 723,000 in the three months to October.
Mr Beck said the sharp drop in payrolls data pointed to caution among businesses ahead of the November 26 Budget.
“Signs of renewed weakness in the UK labour market suggest the real economy is starting to feel the chill of Budget tax uncertainty,” he said.
Investec Economics said the jobs data and easing in wage growth – both of which are being watched carefully by the Bank of England – made a December cut in rates from 4% to 3.75% more likely.
“What will be key however to the December debate, and the path for rates looking further forward, are the two CPI reports, and of course the details of the Budget, which we will receive before the December 18 rate announcement,” said Investec economist Ellie Henderson.
James White, at EY Item Club, said the figures, and slowing in private sector pay growth to 4.2% in the three months to September, removes “one potential roadblock to a pre-Christmas rate cut”, and also boosts the chances of “further rate cuts in 2026”.
New Delhi: Chartered Accountant Abhishek Walia believes investments increase in value over time. Walia asserts that the only way to create wealth quickly is “staying long enough to let compounding do its job.”
Walia, the founder of Zactor, pointed out on LinkedIn that most people think luxury cars and fancy holidays drain their money. He said that our short-term mindset and not fancy spendings actually drain our money. “You think expensive cars and holidays drain your money? No. Your short-term mindset does,” he wrote on LinkedIn.
According to Walia, the majority of people lose money because they expect instant results, panic sell and delay SIPs. “We want quick returns. We panic-sell when markets dip. We delay SIPs because “this month is tight.” And then we wonder why wealth never compounds,” he wrote.
Through an example, Walia shared how a simple delay in investment can make a massive difference. “Let’s put numbers on it. If you invest Rs 10,000/month for 20 years at 12%, you will have Rs 92 lakh. But if you start 5 years late, you will end up with Rs 47.5 lakh. That delay those few “I will start next months” just cost you Rs 45 lakh,” he wrote.
According to Walia, not making decisions is the “most expensive thing you will ever do.”
Walia said that true success in investing comes from patience. If you invest for a long enough period of time, compound interest will gradually increase your wealth, he said. “Patience is the new alpha. Because the only shortcut in wealth creation is staying long enough to let compounding do its job,” Walia wrote.
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