A new report has praised the economic importance of Stansted and its potential for economic growth.

Compiled by Oxford Economics and commissioned by the London Stansted Cambridge Corridor (LSCC), the study states the airport currently serves 17 million annual passengers, generating £750 million gross value added.

Out of various potential scenarios, it found the best methods would allow for 35 million passengers each year, increasing revenue to £2.2 billion. At maximum use, it estimates the infrastructure could support 45 million, resulting in £2.66 billion

Chairman of the LSCC Greg Clark said: "Expansion of the airport, with an increase in long-haul routes, and improved road and rail connectivity to Cambridge-Peterborough and London, will ensure that the [LSCC] builds on its global reputation, driving forward the UK economy."

LSCC argues Stansted is a quick solution, able to expand within its original planning permission. This is in contrast to various plans for developments at Heathrow, would may require additional land, such as the proposal for four-runway hub.