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| Osborne to launch National Infrastructure Commission | Osborne to launch National Infrastructure Commission |
| (about 9 hours later) | |
| Chancellor George Osborne will launch the National Infrastructure Commission later to oversee £100bn of spending on infrastructure projects. | Chancellor George Osborne will launch the National Infrastructure Commission later to oversee £100bn of spending on infrastructure projects. |
| The money, which had already been announced, will be spent by 2020 on "vital projects" such road, rail and flood defence improvements. | The money, which had already been announced, will be spent by 2020 on "vital projects" such road, rail and flood defence improvements. |
| The Commission will be led by former transport secretary Lord Adonis. | The Commission will be led by former transport secretary Lord Adonis. |
| "This is about jobs, growth, living standards and ensuring Britain is fit for the future," Mr Osborne said. | "This is about jobs, growth, living standards and ensuring Britain is fit for the future," Mr Osborne said. |
| "Infrastructure isn't some obscure concept, it's about people's lives, economic security and the kind of country we want to live in. | "Infrastructure isn't some obscure concept, it's about people's lives, economic security and the kind of country we want to live in. |
| "That's why I'm 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." | "That's why I'm 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." |
| Priorities | Priorities |
| The chancellor will make the announcement at the National Railway Museum in York. | The chancellor will make the announcement at the National Railway Museum in York. |
| The Commission will focus on three particular areas - connections between cities in the North, London's transport system, and energy. | The Commission will focus on three particular areas - connections between cities in the North, London's transport system, and energy. |
| It is charged with producing a report at the beginning of each Parliament providing recommendations for spending on infrastructure projects. | |
| There will be seven Commissioners, including Lord Adonis. The others are former deputy prime minister Lord Heseltine; former member of the Bank of England's rate-setting Monetary Policy Committee Prof Tim Besley; former chair of the Olympic Delivery Authority Sir John Armitt; neuroscientist Sadie Morgan; former chief economist to the Greater London Authority Bridget Roswell; and chairman of the Victoria & Albert Museum Sir Paul Ruddock. | There will be seven Commissioners, including Lord Adonis. The others are former deputy prime minister Lord Heseltine; former member of the Bank of England's rate-setting Monetary Policy Committee Prof Tim Besley; former chair of the Olympic Delivery Authority Sir John Armitt; neuroscientist Sadie Morgan; former chief economist to the Greater London Authority Bridget Roswell; and chairman of the Victoria & Albert Museum Sir Paul Ruddock. |
| In December last year, the government announced plans to spend £2.3bn on flood defences and £15bn on road improvements, as well as new proposals on housing. | In December last year, the government announced plans to spend £2.3bn on flood defences and £15bn on road improvements, as well as new proposals on housing. |
| The government first announced plans for £100bn of infrastructure spending in the summer of 2013. | The government first announced plans for £100bn of infrastructure spending in the summer of 2013. |
| At the time, it said the UK had "for centuries been pioneers in infrastructure". In recent decades, it said, "we have let this proud record slip". | At the time, it said the UK had "for centuries been pioneers in infrastructure". In recent decades, it said, "we have let this proud record slip". |