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<p>The Government and its advisers have undertaken considerable assurance work on
the financial viability of Heathrow Airport Limited's scheme. Given the transformative
nature of the scheme, there will inevitably be various risks and challenges that need
to be addressed as the scheme design and regulatory framework are developed. The Government’s
independent advice has concluded that, so far as can be assessed at this early stage
of the process, in current market conditions Heathrow Airport Limited appears in principle
to be able to finance expansion privately without Government support. This includes
taking into consideration the effect of the UK leaving the European Union.</p><p>
</p><p>The Government is not publishing the financial assurance work that has been
undertaken as it is based on and contains information provided in confidence, and
to do so would prejudice commercial interests. Separately, the Civil Aviation Authority
has published its own view that there are credible scenarios in which expansion can
be financed and delivered affordably. This can be found online at:</p><p>(<a href="http://publicapps.caa.co.uk/docs/33/CAP1658EconomicregulationofcapacityexpansionatHeathrow.pdf"
target="_blank">http://publicapps.caa.co.uk/docs/33/CAP1658EconomicregulationofcapacityexpansionatHeathrow.pdf</a>)</p>
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