London and Gatwick runways are at capacity, if you miss your landing slot, you circle London for ages, if you miss your takeoff slot then you wait for hours for another one. I don't know many airports in the world that have this problem, so if you are a foreign businessman looking to invest in a subsidiary in Europe then you are much better off picking Ireland (which includes low 12.5% corporation tax) or Schropol in the Netherlands, the airport has 4 runways and is rapidly becoming the biggest hub and freight airport in Europe and being locating in the Netherlands has the advantage of being on the European mainland.
If you want the business and wealth / Jobs created here then transport infrastructure has to be improved. If we want the City of London to stay as the premier financial centre in the world, then airport capacity has to be increased, so more flights to the far east are essential. Personally, I would give the population a choice at Heathrow a 3rd runway or 24 hours a day 7 days a week flights. But there again I'm not a nimby as I realise we are a small island and in the southeast including where I live, with very high population density, you just have to put up with noise pollution, if you don't like it (including me) go and live elsewhere.
If Europe keeps on its current course: Green / Low CO2 / Nimby / I've got rights / I'm entitled to benefits / Pay 50p in tax (if your lucky) and Expect £0.5m back for health care / benefits etc. Then it is going to become the economic backwater, that is currently predicted by 2030, where the USA and Europe will account for less than 30% of global GDP and the rest of the world 70%, the opposite of where we are now. If we want that then UK and Europe just need to carry on their current course.
Once you are a poor country with few natural resources it is very, very difficult to come back as much of Eastern Europe is finding. Russia is the exception, due to their vast natural resources, particularly Oil and Gas.
Currently, I think our living standards and our cost base (including Government spending) need to drop by about 30% for this country to become competitive again. 13 years of Labour Governments / EU laws have killed the Golden economy we had from the 1980's to 1997, when we we in the top 10 most competitive economies in the world, now we are 37th. With the continued socialization of our education system, where we were in the top 10 countries for Maths, English and Science, where now are struggling to stay in the top 20, puts the UK in a very bad position. Globally, there is a shortage of computer programmers, but in this country the number of computer science graduates produced each year by our universities is going down.
What many of you may not realise is that Quantitative Easing (QE) by the current Government (£275bn) is selling your children's and your grand children's futures with many of the bonds they are buying with this money are dated to to be paid back between 2038 and 2060. The last Government and to a very slightly lessor extent, the current Government are spending your children's futures now, including the record £17.5bn they are spending on overseas aid.
Personally unless this country reinvents itself I think is in for a very steep long term decline and that's why as soon as I've sold my house I'm getting out.
The Thames Estuary airport fantasy is just an exercise in kicking the can down the road, it will never be built and it is the wrong side of London to service the South East. Fantasizing on this is much easier for politicians (and it makes them look like they are doing something) than confronting the difficult but necessary expansion of Heathrow, Gatwick, Stanstead and Luton airports.