Chancellor Launches £100bn Spending Plan Body

Chancellor George Osborne said Britain was “thinking big again” as he launched a new body to oversee £100 billion of infrastructure spending by 2022.

Mr Osborne admitted that successive governments' failure to address long-term challenges had left Britons facing longer commutes, higher energy bills and soaring housing costs.

The Chancellor said the National Infrastructure Commission, chaired by former Labour minister Lord Adonis, would "hold our feet to the fire" on major projects.

Mr Osborne is to use next month's Autumn Statement to set out plans to sell off billions of pounds' worth of public sector assets to fund schemes.

Formally launching the commission at York's National Railway Museum, he said that it was a statement of intent that the UK would plan for the future and "lead the world".

He said: "We haven't done enough of that in our country in the past.

"And as a result British people have to spend longer than they should getting to work, they pay more than they should in energy bills, they can't buy the homes they want, all because of the failure of successive governments - and the societies that elected those governments - to think long term.

"That has started to change: new railway lines are being laid, new roads are being built, new broadband is being installed.

"Britain has rediscovered its ambition and we are thinking big again.

"The task for the National Infrastructure Commission will be to think dispassionately and independently about Britain's long-term infrastructure needs in areas like transport, energy, communication, flood defence and the like."

The membership of the commission, announced today, includes former Olympic Delivery Authority boss Sir John Armitt, who led an independent review of infrastructure for Labour.

Other commissioners include Tory former deputy prime minister Lord Heseltine, former Bank of England Monetary Policy Committee member professor Tim Besley, artificial intelligence expert Demis Hassabis, architect Sadie Morgan, economist Bridget Rosewell and Victoria & Albert Museum chairman Sir Paul Ruddock.

The commission's initial focus will include work on improving connectivity in northern England - a key part of the Chancellor's "Northern Powerhouse" agenda.

Other priorities include London's transport systems, including the proposed Crossrail 2, and energy infrastructure.