Balls unveils infrastructure inquiry
He added the review’s findings will result in plans being put in place for “a commission or process, independent of government, that can assess and make proposals on the long-term infrastructure needs of our country over the coming decades”.
Balls said there needs to be a focus on cross-party consensus to deliver the long-term infrastructure needs of the country, which the new commission would help to deliver.
“Not repeating the mistakes of the past, but learning from them,” he continued. “Building a consensus which crosses party lines, without chopping and changing one parliament to the next.”
He also signalled support for government efforts to bring institutional investors into the market.
“When government budgets are tight, we must think innovatively about how we can finance these vital projects over the coming decades, drawing on the private sector and long-term pension savings,” he said.