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Leeds is pressing to be the next regional city to agree a deal with the government that will see it handed more powers and flexibilities, including a mooted 拢1bn transport investment fund.

The plans, set out in a report to Leeds council鈥檚 executive board, would involve the Leeds City Region setting up a new form of city regional governance, called a combined authority, for which it would receive new powers and flexibilities from government over a range of policy areas.

Currently only Greater Manchester has a combined authority in place, which works to bind the 10 authorities into a statutory body accountable for spending across the city region.

Leeds鈥� so-called 鈥渃ity deal鈥�, which would follow that and the first deal for Liverpool , would include a transport investment fund 鈥渙f at least 拢1bn鈥�, the council report said.

The report also mooted the creation of a new 拢200m investment fund, formed by pooling funds from the councils that make up Leeds City Region, which would be matched 鈥減ound for pound鈥� with resource from central government.

The report said the deal would also cover areas such as skills, and trade and investment.

An announcement is expected following the local elections next month, the report said.