TESCO chief executive Sir Terry Leahy is a key member of Liverpool city region’s proposed new economic investment partnership.

The region last night submitted its bid to create a Local Enterprise Partnership (LEP) and establish the area as “a top international and national investment location based upon global trade, science based innovation, manufacturing and tourism”.

The proposal covers the boroughs of Halton, Sefton, Knowsley, Liverpool, St Helens and Wirral – an area with a population of 1.5m and 49,000 businesses.

LEPs have been designed by the coalition government to replace regional development agencies, which are being scrapped.

As a partnership between leading businesses and the public sector, they will bid for money from government and set strategies to help create jobs and attract investment.

Liverpool council leader Joe Anderson, chair of the city region cabinet, said: “Over the last decade, the fortunes of the Liverpool City Region have been transformed, but our economy still lags behind the national average.

“We are committed to developing our status as a thriving international city region, and we want to create a Local Enterprise Partnership which gives us the power and the freedom to drive forward economic growth and create new businesses and jobs.

“Together with our private sector partners, we believe we have put together a compelling argument which will see us working hand in glove with the government to transform the local economy.”