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Hammond can signal new era for British infrastructure projects

Decisions on Hinkley Point, Heathrow and HS2 come at a vital time for Britain. Now the chancellor can help to make sure they are successful, and boost communities

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Hinkley Point, Heathrow, and next up High Speed 2. One by one, Theresa May’s government is giving the go-ahead to major infrastructure projects that will cost taxpayers billions of pounds.

But who was Chris Grayling kidding when he said of Heathrow’s third runway that the government had taken a “truly momentous” decision and that he was “proud”? It has taken 50 years for a decision about expanding airport capacity in the south-east to be made. That is laughable.

The idea of building new runways in the south-east was first raised in 1968 by the Roskill Commission, set up by the Labour government of the day. It recommended building a new airport at Cublington in Buckinghamshire.

However, in 1971, the government accepted a rival proposal for a member of the committee to build an airport at Maplin Sands in the Thames estuary, a forerunner of Boris Island. Neither project went ahead as costs mounted and the 1970s oil crisis gripped Britain. Instead, a redevelopment of Stansted airport – originally rejected by the commission – was approved.

Major infrastructure projects require planning, perseverance and patience to be successful

This fudging of the issue has basically been on a loop ever since. Successive governments have pushed backed the decision as business leaders have claimed Britain desperately needs to expand its airport capacity and residents close to Heathrow have said any new development at the airport would be damaging for the environment and their quality of life.

The debate about airport capacity involves parties with a serious vested interest. The businesses that have opposed Boris Island and backed Heathrow include British Airways and property company Segro. BA owns more slots – daily takeoff and landing rights – than any other airline at Heathrow, while Segro’s business is based on owning valuable warehouses around the airport.

It is a government’s job to put these interests to one side and make a decision in the long-term interests of the country. David Cameron’s move to kick the airport decision into the long-grass even after commissioning Sir Howard Davies to study the issue was shameful. Cameron allowed his own vested interests – Conservative party politics – to get in the way of Britain’s long-term interests.

It is important to go back over the sorry tale of how the government finally came to make a decision, because this is a vital time for Britain. With the country voting to leave the EU, interest rates low, and the economy set to stagnate according to forecasts, the government has an opportunity to use cheap debt to upgrade Britain’s creaking infrastructure. Although these projects could cost billions of pounds, a lot of that cash could be pushed back into the British companies that build them. Around 98% of the companies who built the facilities and provided the materials for the 2012 London Olympics were based in Britain.

Major infrastructure projects require planning, perseverance and patience to be successful. They should not simply be signed off willy-nilly. But this is not the same as indecision.

Philip Hammond, the chancellor, can use the autumn statement to give the green light to a series of road, rail and telecommunications improvements in Britain. George Osborne, his predecessor, had a habit of reiterating his commitment to infrastructure without actually pushing projects to a position where construction could actually start. Hammond can signal the start of a new era for British infrastructure projects and boost communities across the country.

John Lewis and gender

Another week, another report on shocking gender equality in business. The World Economic Forum – best known for organising a high-profile annual gathering in Davos, Switzerland – has warned it could take 170 years to eradicate the disparity in pay and employment opportunities between men and women.

Nickolds has a rare and detailed appreciation of fashion trends and consumer behaviour

In the context of this report, the appointment of Paula Nickolds as the new managing director of John Lewis stands out.

Nickolds is the first woman to lead the department store chain in its 152-year history. But what particularly makes the appointment striking is that she has spent 22 years at the company after joining as a graduate trainee. In other words, she has climbed her way to the top.

There is a significant difference between a business developing a woman into an executive role and hiring a woman from outside. Too many talented woman are forced to move businesses to climb the career ladder and too many FTSE 100 companies try to add a female voice to their board simply by bringing in a woman who has enjoyed success elsewhere as non-executive director.

When you meet Nickolds, it is quickly clear that she has a rare and detailed appreciation of fashion trends and consumer behaviour, and she has long been highly regarded at John Lewis. Nonetheless, she and John Lewis deserve enormous credit for her success and appointment. Other British companies should take note.