Chancellor George Osborne will today announce that former Labour transport secretary Lord Adonis will lead a new independent commission to oversee infrastructure projects.
The national body, mooted by Labour in the general election campaign earlier this year, will oversee an extra £5bn of infrastructure spending over the course of this parliament, Osborne will tell the Conservative Party conference in Manchester.
It will operate independently from government and will initially focus on London transport, connections between northern cities and the nation’s energy network.
Funds for the projects will be raised via the sale of public assets and land.
The body will start work immediately and produce a report at the start of each parliament containing recommendations for projects.
