DEPUTY Prime Minister Nick Clegg will today be urged to set off a £150m plan that would create thousands of jobs on Tyneside over the next 25 years.

Mr Clegg has been given a borrowing plan from Newcastle and Gateshead councils in which money would be spent on major regeneration schemes set to create around 20,000 jobs over the next two decades.

Mr Clegg, speaking today at a talk on the importance of cities to the wider economy, is thought to be supportive of the Tyneside bid and it is understood the Treasury have said it is the most advanced of those handed in by English councils.

The Deputy Prime Minister is expected to announce that plans such as Newcastle’s will be “fast tracked” in a major Government growth scheme. Mr Clegg has been told that if he gives public backing to the Tyneside scheme as part of his “cities plan”, work would start next year to deliver a much needed boost to the city’s construction industry.

The Liberal Democrat leader has already publicly backed plans to set up accelerated development zones in which cash borrowed to build office blocks and shopping centres is repaid through the business rates of those renting out the space.

Newcastle’s bid includes the Science Central site on the former Tyne Brewery, land behind the Central Station and hopes of building a new shopping centre along East Pilgrim Street.

Gateshead’s submission includes continuing redevelopment along the quayside and work to create new office space behind the Baltic and conference centre next to the Sage Gateshead.