December 10, 2012 12:10 am

Labour announces infrastructure review

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Labour will announce on Monday its panel of advisers to carry out a review of Britain’s long-term infrastructure needs on behalf of the opposition party.

In October Lord Adonis, the former transport secretary, commissioned Sir John Armitt, former head of the Olympic Delivery Authority, to carry out the review.

Panel members will include Rachel Lomax, former deputy governor of the Bank of England and a member of the Monetary Policy Committee from 2003 to 2008.

The group also includes Sir David Rowlands, chairman of Gatwick airport; Chris Elliot, chairman of Barclays Infrastructure Funds Management; Alan Buckle, deputy chairman of KPMG; and Paul Goldby, former chief executive of Eon UK.

Sir John said he wanted to produce a cross-party consensus on how to provide stability for infrastructure decisions over decades. “You can’t plan properly in an environment where the government backs something and five years later you have a different government having a change of heart,” he said.

The review will examine which institutional structures are likely to support this type of long-term strategic decision-making.

The panel will issue a call for evidence in the new year, and its report will be due in the autumn.

The coalition government has produced three infrastructure reviews in an effort to marshal more private money into energy, transport and other schemes, and last week it unveiled a revamped private finance initiative. However, pension funds have so far committed only £700m towards a new infrastructure platform with a 10-year target of £20bn.

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