The U.K. government is backing the construction of a third runway at London’s Heathrow Airport, Treasury chief Rachel Reeves said Wednesday in a speech designed to signal to the business world that the new Labour government is serious about turning around the economy.

British finance minister Rachel Reeves is expected to back the expansion of Heathrow Airport on Wednesday, turning to the country's most controversial infrastructure project in her hunt for economic growth.

Chancellor Rachel Reeves has backed a third runway at London's Heathrow Airport as part of a fresh plan to get the UK's sluggish economy growing. She said Heathrow expansion, which has been delayed for decades over environmental concerns, would "make Britain the world's best connected place to do business".

In a speech on Wednesday, Chancellor Rachel Reeves spoke about economic growth and said a third runway is "badly needed".

The third runway is part of its drive to lift the U.K. economy out of a long period of stagnation, Treasury chief Rachel Reeves said in a speech on Wednesday.

Britain's Labour government on Wednesday backed a plan for a third runway at London's busy Heathrow airport, with finance minister Rachel Reeves saying it would help grow the economy while

Rachel Reeves' support for a third runway came in a wide-ranging speech on boosting UK growth rates, which have been historically low since the 2008 global financial crisis for a variety of reasons. V