Politics is prone to hyperbole but it is no exaggeration to say that the creation of an independent infrastructure commission could turn out to be the defining achievement of the next Labour government.

John Armitt’s brainchild could be our equivalent of Bank of England independence, a huge structural reform that brings long-term benefit to the British economy and, looking back, will seem like a no-brainer.

I say this not simply because I have been calling for this change for a while, since Progress’ Politics of Solutions pamphlet.

This bold move from Ed Miliband to protect critically important infrastructure decisions from the damaging uncertainty of Westminster politics is essential to tackle the terrible British tradition of relying on short-termism and half-measures in planning energy, housing, transport and other infrastructure areas.

Giving independent oversight over infrastructure planning and delivery could well have an even bigger effect on our economy as monetary policy independence.

Certainly, the announcement today shows that Labour is serious about the infrastructure crisis facing Britain.

Take energy as an example: by 2018, Britain will lose a quarter of its electricity-generating capacity as first generation nuclear power stations are decommissioned, making the country still more dependent – temporarily at least – on imported energy, a status that recent geopolitical events have clearly demonstrated the foolhardiness of. Or housing: Labour has rightly pledged to deliver 200,000 new homes every year, but governments of all political stripes have struggled to turn such pledges into real bricks and mortar. In the face of a serious housing shortage we need an infrastructure body that will not let the next chancellor get away with this one’s trick of simply announcing a downsized Ebbsfleet garden city at each budget speech.

On transport too we know that our roads, railways and airports are creaking at the seams and that demand will only increase. High Speed Two, vital as it is, cannot be the end of major capacity-increasing investment in our railways, and the decades of dither over solving the runway shortage in the south-east of England is painful to recall.

Labour has taken an important step today in accepting the proposal for an independent commission. The party is holding up its hands – as every party should be – and saying that governments of all colour have too often fudged the big infrastructure challenges. If Britain is to deliver long-term, sustainable economic growth that works for all regions of the country, we cannot just inherit the current government’s approach to infrastructure of impressive shopping lists but little delivery. Moving the key decisions over infrastructure priorities and control over delivery to an independent board with real clout, bringing into the frame experts whose horizons extend beyond the next election, could provide the step-change that Britain so urgently needs.

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John Woodcock is member of parliament for Barrow and Furness and chair of Progress. He tweets @JWoodcockMP

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Photo: freefotouk