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Labour has committed to HS2 and setting up an independent infrastructure commission in its newly-launched manifesto for business.

Launching the Labour鈥檚 business manifesto in central London yesterday, Ed Miliband said: 鈥淥ur plan is to work with all our businesses. With a government that balances the books, invests in infrastructure and works with you to improve skills and open up more competitive markets.鈥�

The proposed new National Infrastructure Commission would be tasked with responsibility for the nation鈥檚 key infrastructure projects 鈥� including the party pledge to build up to 200,000 homes a year. National Infrastructure Goals include having five cities in the European top 20 for growth between now and 2045, a decarbonised power sector, an advanced telecommunications economy and new towns and urban extensions to ensure 200,000 new homes a year by 2020.

An independent infrastructure commission was proposed by the Labour-commissioned Sir John Armitt review of UK infrastructure policy.

The also commited Labour to HS2, but said the party would limit spending on the 拢50bn project: 鈥淲e will continue to support the construction of High Speed Two, while taking clear steps to ensure costs are kept down.鈥�