Advertisement

  1. ITV Report

Chancellor visits York to announce £100bn investment in roads, rail and flood defences

George Osborne will launch the National Infrastructure Commission in the north today Photo: Nick Ansell/PA Wire/Press Association Images

Chancellor George Osborne will visit York today to announce a £100 billion investment in British roads, rail, flood defences and other projects. He will insist that a better infrastructure is vital to improve the lives of British people.

Launching the new National Infrastructure Commission, which will be led by former Cabinet minister Lord Adonis, the Chancellor will outline plans to 'get Britain building', putting infrastructure at the centre of the November Spending Review.

The Chancellor is expected to pledge £100 billion in infrastructure spending by 2020, including full funding for the £15 billion Roads Investment Strategy.

Northern transport links and connectivity between cities will be at the forefront of the National Infrastructure Commission's initial plans which will particularly focus on transport links across the Pennines.

The body will also prioritise projects which focus on London's transport system and how the UK can better balance supply and demand in the energy market.

The National Infrastructure Commission will be an independent body working to determine Britain's infrastructure priorities and hold governments to account.

The body will be made up of:

  • Lord Heseltine - former deputy prime minister
  • Sir John Armitt - former chair of the Olympic Delivery Authority
  • Professor Tim Besley - former member of the Bank of England's Monetary Policy Committee and the LSE's Growth Commission
  • Demis Hassabis -artificial intelligence researcher, neuroscientist and head of DeepMind Technologies
  • Sadie Morgan - founding director of dRMM Architects and Design Panel Chair of HS2
  • Bridget Rosewell 0 senior adviser at Volterra and former Chief Economist and Chief Economic Adviser to the Greater London Authority
  • Sir Paul Ruddock - chairman of the Victoria & Albert Museum and the University of Oxford Endowment

The NIC will produce a report at the start of each Parliament, every five years, to recommend priority infrastructure projects.

My Spending Review will be about delivering security.

British people have to spend longer than they should getting to work, pay more than they should in energy bills and can't buy the houses they want because of the failure of successive governments to think long-term.

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.

This is about jobs, growth, living standards and ensuring Britain is fit for the future. We must be the builders. At the Spending Review, I will commit to investing £100bn in infrastructure over the next five years and we are creating an independent commission to give us a long-term, unbiased analysis of the country's major infrastructure needs.

We need to think long-term and deliver a cross-party consensus on what we need to build. I am delighted Andrew Adonis and this world-class group of experts have agreed to come together on the National Infrastructure Commission to help us do that.

– Chancellor George Osborne