Reference number: ESPR/1705ER2 The decision of the new Government to axe the planned second runway at London Stansted Airport is bad news for businesses in Essex, Cambridgeshire, Hertfordshire and North East London according to Essex FSB (Federation of Small Businesses). Essex FSB Chairman, Iain Wicks, said: "London Stansted Airport is a major economic driver for Essex and the surrounding counties providing a hub where many small businesses are based and there are some 11,000 people employed at the airport. "The planned expansion and the second runway would have generated considerable economic activity in the area bringing with it new jobs and new businesses. "The new Government must realise that it is businesses which create the wealth of the country and the money they pay their staff becomes the tax revenue that Government spends so supporting business growth is important for the future economic well being of our country." The FSB represents more than 213,000 business people across the United Kingdom and is the largest single organisation representing business interests in the country. The Essex Region of the FSB represents small businesses in the areas covered by Essex County Council and the London Boroughs of Havering and Redbridge. More information on the Essex Region of the FSB (Federation of Small Businesses) can be found at the Essex FSB website.