Any new runway in Gatwick airport would have to be built after 2016, as the airport signed a legal agreement in 1979 saying the airport would not extend before this date.
Gatwick airport have submitted their plans to the Government-appointed aviation commission led by former Financial Services Authority (FSA) chief Sir Howard Davies.
A full report into the plans will be released in summer 2015.
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The PM promises to double to 200,000 the number of homes built under an existing scheme aimed at easing Britain's housing shortage.
The Met Office has weather warnings in place for snow and ice until 10am in the north and west.
The plan, which would effectively strip banks of the benefit of recent corporation tax cuts, forms part of the party's election manifesto.