The chair of the UK’s competition regulator has been removed from his role by the government, amid its push for growth.

Marcus Bokkerink, the head of the Competition and Markets Authority (CMA), has been removed from his post by the business secretary.

Chancellor Rachel Reeves met with regulators last week to impress upon them the centrality of economic growth to their activities.

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The CMA oversees deal-making and briefly paused the high-profile merger of Microsoft and gaming giant Activision-Blizzard.

Mr Bokkerink, a former senior partner at one of the world’s biggest consulting firms, was appointed in 2022 by then business secretary Kwasi Kwarteng. He could have served a five-year term.

A government source told Sky News: “This is a signal that we’re serious about changing the culture of regulation in order to get growth. The government wants to show it is serious about investment.”

The removal of the CMA chief comes as Ms Reeves and business secretary Jonathan Reynolds, who took the decision, arrived in Davos to court overseas investors at the annual World Economic Forum.

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It is no surprise to see a government that claims to be committed to making economic growth a priority giving the green light to expansion of Gatwick Airport and Luton Airport.

Nor, for that matter, would it be a surprise for a third runway at Heathrow Airport to be given the go-ahead by Sir Keir Starmer‘s government – particularly as Rachel Reeves, the chancellor, told the London Evening Standard in July last year that she had “nothing against expanding airport capacity… I want Heathrow to be that European hub for travel”.

Put in purely economic terms, airport expansion is a no-brainer.

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The economic case

The independent commission led by Sir Howard Davies, the former chairman of NatWest, and published as long ago as July 2015, concluded that “expanded airport capacity is crucial for the UK’s long-term prosperity”.

Gatwick, according to a report prepared for the airport by the independent economic consultancy Oxera, generated £5.5bn for the economy in 2023 and supported more than 76,000 jobs.

The airport’s owner estimates that expanding it to take annual capacity to 75 million by the mid-2030s, up from the £46.5m it hit in 2019, would create around 14,000 jobs and generate an extra £1bn a year in economic benefits.

Those numbers are difficult to verify – but it can be stated with confidence that anything which provides access to new markets for both consumers and businesses will be positive for growth.

Expanding the smaller Luton Airport would, similarly, be positive for growth.

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The airport in 2019 – these pre-pandemic numbers are probably the most reliable given the upheaval of the last few years – is estimated to have supported 16,500 jobs in the local area and contributed £1.1bn to GDP. Expansion on the airport’s estimates creates up to 6,100 jobs and contributes an extra £900m to GDP.

Trumping them both, of course, is Heathrow.

The Davies Commission said that building a third runway to the northwest of the airport would provide for around 40 new destinations from Heathrow and would create more than 70,000 new jobs by 2050, adding some £147bn to GDP.

It stated: “Heathrow is best-placed to provide the type of capacity which is most urgently required: long-haul destinations to new markets. It provides the greatest benefits for business passengers, freight operators and the broader economy.”

It is worth noting that among the members of the commission was Sir John Armitt, the respected former chairman of the Olympic Delivery Authority, who is now chair of the National Infrastructure Commission.

His term of office was extended by Ms Reeves in October last year in order for him to oversee the 10-year strategy ordered by the chancellor and the establishment of the National Infrastructure and Service Transformation Authority.

He will be an influential voice in this debate.

However, while the economic case for airport expansion is unimpeachable, the bigger question, perhaps, is whether it is achievable.

Political considerations

Getting approval for the expansion of both Luton and Gatwick will be a major test of the new government’s commitment to overhauling planning regulations where they are an impediment to growth.

And here there are – for supporters of expansion – ominous signs.

A decision on whether or not to expand Luton was postponed for the third time just before Christmas so that Heidi Alexander, who had just succeeded the disgraced Louise Haigh as transport secretary, could be given time to assess the application.

Climate concerns

Tied into the planning hurdles are the inevitable environmental objections.

The Climate Change Committee, the government’s independent advisory body, has already said emissions savings would have to be made elsewhere in the economy were there to be a big expansion in airport passenger numbers.

The aviation industry will doubtless argue that it has already committed to becoming net zero by the middle of the century – but the environmental lobby has a long track record of successfully campaigning against airport expansion.

On top of that are the political obstacles.

Ms Reeves – and Ms Alexander, should she back expansion of Gatwick and Luton – will face implacable opposition from within their own cabinet, not least from Ed Miliband, the energy and climate change secretary.

Backing Heathrow expansion would be more controversial still.

Sadiq Khan, the London mayor, is strongly opposed to this and so are other senior Labour figures, among them Andy Burnham, the mayor of Greater Manchester.

He argues that a third runway at Heathrow would run counter to levelling-up proposals – although it is worth noting here that some of the UK’s biggest regional airports, such as Newcastle, support a third runway on the basis that it would boost international connectivity to their region.

That means leadership will ultimately have to come from Sir Keir Starmer who, it is worth noting, voted against a third runway at Heathrow in 2018.

Government unlikely to ever get credit

Supporting airport expansion is often difficult for governments – quite apart from the environmental objections and the inevitable planning hurdles – because it takes so long to add capacity and ministers are therefore unlikely to receive credit for it during their political lifetime.

For example, the two main airport expansion projects currently under way in Europe, the new Luis de Camoes airport in Lisbon and the new Solidarity superhub in Warsaw, are unlikely to be completed until the mid-2030s.

But the latter, in particular, highlights how other European governments have no hesitation in seeing airport expansion as a major generator of growth.

It is not alone. Amsterdam’s Schiphol Airport, an increasingly important competitor to Heathrow, is currently investing some €6bn in upgrades with the aim of expanding both passenger and flight numbers. Budapest, an airport once owned by BAA, the former parent of Heathrow and Gatwick, is looking to build a third terminal that would generate an extra three million passengers by the end of the decade.

These examples highlight how other European governments are less squeamish about putting airport expansion over environmental considerations in the name of pursuing economic growth.

You can be sure that the international investors who own Heathrow, Gatwick and Luton will be looking to the UK to do likewise.

One of the things that made President Donald Trump’s inauguration distinctive was the prominence of Silicon Valley elite.

Easily identifiable were the world’s three richest men – Elon Musk, Jeff Bezos and Mark Zuckerberg. And that’s not to mention some of the billionaires not placed directly in view of the cameras.

When the riches of the billionaire tech founders, millionaire business people and wealthy politicians are totted up there was more than $1trn – over a thousand billion – in the rotunda of the Capitol on Monday morning.

The richest of them all, topping the Forbes real-time billionaires list, was Elon Musk.

The South African serial entrepreneur makes his money through ownership of electric car company Tesla and space exploration company Space X.

His fortune is $433.9bn, according to Forbes.

Next on the rich list is Amazon founder Jeff Bezos, worth $239.4bn through his ownership of company shares.

Mr Bezos’ part-ownership of The Washington Post led to some speculation he played a role in the paper saying it would not endorse a candidate in the US election for the first time in 36 years.

Third-richest on Forbes’ list is Meta founder Mark Zuckerberg, worth $211.8bn.

His company owns social networks Facebook, Instagram and WhatsApp.

The influence of changing political winds could be seen in Meta’s recent decision to roll back fact-checking.

While there was no sign of the world’s fourth-richest man – Oracle founder Larry Ellison – the man who occupies the fifth spot, Bernard Arnault, was there with his family.

The Frenchman’s luxury goods giant LVMH owns brands including Dior, Louis Vuitton, Moet & Chandon and Sephora, with his net worth estimated by Forbes at $181.3bn.

Less familiar to a UK audience – but still hugely wealthy – is Miriam Adelson, who along with her family is ranked 55th richest in the world by Forbes.

Their net worth of $31.9bn was garnered through casinos. Her husband Sheldon Adelson founded the Las Vegas Sands casino and resort company.

A supporter of the new president, Ms Adelson was awarded the Presidential Medal of Freedom by Mr Trump in 2018.

On the lower end of the Forbes rich list – coming in 89th – is media magnate Rupert Murdoch, valued at $22.2bn.

His Fox network is a favourite of the US president but he made a chunk of his wealth in the UK, where he bought The Times and The Sun newspapers.

Aside from Fox, in the US he owns The Wall Street Journal and the New York Post.

If these six people were the only attendees, there would be more than $1.12trn in the room.

That’s about a third of the entire economic output of the UK. The UK’s gross domestic product (GDP) – the standard measure of an economy’s value and everything it produces – is $3.73trn, according to the International Monetary Fund.

Added to that are the billions and millions owned by tech royalty such as Apple founder Tim Cook, Google chief executive Sundar Pichai and OpenAI founder Sam Altman.

And none of this is to mention the riches of the political dynasties in attendance – the Bushs, Clintons and Trumps.