WALTON MP Peter Kilfoyle dismissed Everton FC’s financial importance to his ward as “comic book economics”, a public inquiry heard yesterday.

The revelation came during the cross examination of Everton’s chief executive Robert Elstone.

Mr Elstone followed series of Tesco witnesses who have described the club as a major means of bringing regeneration and civic pride to Kirkby and also an important part of Walton’s make up.

But John Fleming, of Kirkby Residents Action Group (Krag), produced a letter from the Walton MP to Secretary of State Hazel Blears posted ahead of the call in decision.

In it Mr Kilfoyle said: “Arguments of regeneration are misleading in relation to Everton’s place in my constituency.

“It’s presence has arguably been an inhibiting factor in attempts to regenerate the area.

“(Liverpool) councillors have said there would be a hole left in the local (Walton) economy if Everton’s £51m turnover was relocated to Kirkby.

“This is comic book economics.

“Everton’s turnover has virtually no impact on Walton.”

Mr Fleming went on to ask whether any of Everton in the Community’s projects that Mr Elstone highlighted in his evidence on Tuesday were specific to Walton.

Mr Elstone replied: “No, but I believe that the economic value provided to the local community is a real factor.

“We have 200 people going in and out of the stadium every day; shopping in the local area and buying food. The reality is that we contribute and help sustain the local community.”

In addition, he added, the club is also working on producing a lasting legacy for the area should Destination Kirkby get the green light in 2009.

Mr Elstone suggested that redeveloping Goodison Park for housing would bring more families into the area providing more revenue for Walton.

But Roger Lancaster, speaking for the combined authorities opposed to Everton’s plans, said the stadium bid was a commercial enterprise and had little to do with regeneration.