Chancellor George Osborne has officially launched the National Infrastructure Commission (NIC) and announced £100 billion will be spent on projects by 2020.
Osborne said more details of where the cash would be spent would be announced in the upcoming spending review, while the NIC would “give us a long-term, unbiased analysis of the country’s major infrastructure needs”.
The chancellor also released details of the membership of the NIC, which will be chaired by Lord Adonis. Among the commissioners will be Lord Heseltine, former deputy prime minister and champion of the regeneration of Britain’s inner cities through infrastructure investment, Sir John Armitt, who was previously chairman of the Olympic Delivery Authority, and professor Tim Besley, a former member of the Bank of England’s Monetary Policy Committee who recommended an independent infrastructure body.
The other members of the NIC are: Demis Hassabis, head of DeepMind Technologies; Sadie Morgan, design panel chairman of HS2; Bridget Rosewell, a senior adviser at Volterra; and Sir Paul Ruddock, chairman of the Victoria & Albert Museum and the University of Oxford Endowment.
Osborne said: “Infrastructure isn’t some obscure concept – it’s about people’s lives, economic security and the sort of country we want to live in.
“That’s why I am determined to shake Britain out of its inertia on infrastructure and end the situation where we trail our rivals when it comes to building everything from the housing to the power stations that our children will need.”