Johnson: Report wrong about cost of 'Boris Island'

London Mayor Boris Johnson has said that a new airport in the Thames Estuary - so-called Boris Island - would cost far less than is claimed in today's Airports Commission report.

According to the report, the scheme could cost between £82 billion and £112 billion and would result in airport charges around three times higher than those projected for Heathrow.

Johnson insisted the total cost would be around £50 billion - £20 billion for transport links and £30 billion for the facility itself, which he predicted could be funded from private investment.

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Heathrow and Gatwick shortlisted for expansion

Expansion of Heathrow and Gatwick are the shortlisted options being considered by a government-backed commission into airport expansion. In its interim report, the commission also says a new airport will be needed in the South East by 2030.