The UK House of Commons is about to vote on proposed Heathrow expansion today, for which the UK government has reportedly promised No cost to taxpayers. According to an article in the Financial Times, the cost for the expansion itself is estimated at £16.5 billion (not including £2bn–£3bn financing costs) and another £10 billion for improvements in other surrounding infrastructure, totalling £26.5 billion. The Financial Times article states that what puzzles onlookers is how these astronomical sums will be paid for.
Expecting private companies to finance a £26.5 billion infrastructure investment with no cost to taxpayers appears, to put it mildly, optimistic; it supposes the entire cost + financing can be met by existing profit margins or profit growth due to increased capacity.
Has the UK Government published any statements where those costs are broken down with commitments from private parties that
- They will pay all of it (including cost overruns), and
- They will not transfer the cost to customers (who have a large overlap with UK taxpayers) through ticket prices or otherwise?