A £1bn city region deal is being developed for Edinburgh and South East Scotland in a bid to accelerate economic growth in the region.

Business leaders are being urged to back the proposal by the councils involved, who say it will act as a mechanism for accelerating investment in infrastructure, skills and innovation, as well as generating enough income to pay back the initial investment.

Leader of Edinburgh City Council, Andrew Burns, said: ‘In shaping this deal, we want to build on our strengths while tackling persistent inequality and other constraints that threaten to hold the region back. 

‘I am very conscious that as visitors flock into Edinburgh for the summer festivals, for example, we must act to secure the investment required to embrace and build on our cultural success, and put culture centre stage in our growth plans.'

The proposal, which aims to leverage an additional £3.2bn worth of private sector investment into the region, will be presented to business leaders at a meeting on Monday. 

The bid will be submitted to the Westminster and Scottish governments early next month.