£1bn Cardiff City Deal talks held by council
The proposed £1bn Cardiff City Deal to help the Welsh economy grow has been discussed by Cardiff council.
Cabinet members held talks on Thursday over a report outlining the work needed to push the deal forward.
The authority says it could "unlock significant new money" for "major infrastructure" projects.
Cardiff council's economic development chief, Neil Hanratty, said in the report local business would be "at the heart" of any deal.
Chancellor George Osborne said, when outlining March's Budget, that talks would begin towards setting up a City Deal in Cardiff.
'Fit for purpose'
City deals, such as that established in Glasgow, are UK government agreements which give cities funding and control over how to create economic growth.
Cardiff council says the money would be used to support "capital investment in major infrastructure priorities" for the city-region.
Mr Hanratty said in the report Cardiff Business Council (CBC), which acts a link between the council and local businesses, would need to be "reviewed" as part of any deal.
The report recommends considering "formalising arrangements" with the CBC's interim board in order to make the body "fit for purpose".