Lord Heseltine
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Bid to boost Birmingham's economy

17 March 2013 Last updated at 16:39 GMT

A £5bn plan to help rejuvenate Birmingham's economy has been revealed by business and political leaders.

The Greater Birmingham and Solihull Local Enterprise Partnership (LEP) said it wants spending powers to be devolved to regions, giving them more power.

Patrick Burns, BBC political editor for the Midlands, said the money would come from a single pot of cash replacing the current tangle of government handouts, as recommended by the former deputy prime minister Lord Heseltine in the No Stone Unturned report unveiled in Birmingham last October.

The economic strategy set out by the LEP needs the green light and financial backing from Chancellor George Osborne, who is expected to respond ahead of his budget on Wednesday.