Chancellor George Osborne launches National Infrastructure Commission

James Nickerson
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Osborne will pledge £100bn in infrastructure spending (Source: Getty)

Chancellor George Osborne today launched the National Infrastructure Commission, to oversee £100bn of spending on infrastructure projects.

He said infrastructure is "at the heart" of the November spending review, with the money being used by 2020, and insist that the promised £15bn roads investment strategy will be realised.

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The money is to be spent on "vital projects" such road, rail and flood defence improvements.

"This is about jobs, growth, living standards and ensuring Britain is fit for the future," Osborne said. He added:

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.

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.

He made the statement at the National Railway Museum in York, and the commission will focus on London's transport, energy and links between cities in the North.

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During the Conservative party conference Osborne revealed that the body will be chaired by Lord Adonis, the former Labour transport secretary.

Other commissioners include Lord Michael Heseltine, former deputy Prime Minister and professor Tim Besley, a former member of the Bank of England's monetary policy committee.

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