State allocates GBP100bn to infrastructure projects

(By chinca)

Updated: 2015-11-03 14:40:52

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UK Chancellor George Osborne launched the National Infrastructure commission that will oversee GBP100bn (USD154.32bn) of spending on infrastructure projects by 2020. The money, which had already been announced, will be invested in 'vital projects' such as road, rail and flood defence improvements. The commission will be led by former transport secretary Lord Adonis and will initially focus on three main areas: connections between cities in the north, London's transport system, and energy. It will produce a report at the beginning of each five-year Parliament, suggesting priority infrastructure projects.

List of the Commissioners:

* Lord Heseltine – the former deputy prime minister who has long championed the regeneration of Britain’s inner cities through infrastructure investment

* Sir John Armitt – the former chair of the Olympic Delivery Authority, and next year’s President of the Institute of Civil Engineers

* Professor Tim Besley – a former member of the Bank of England’s Monetary Policy Committee and the LSE’s Growth Commission, which recommended an independent infrastructure body

* Demis Hassabis – artificial intelligence researcher, neuroscientist and head of DeepMind Technologies

* Sadie Morgan – a founding director of dRMM Architects and Design Panel Chair of HS2

* Bridget Rosewell – a 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