It is said to be preparing a joint bid with Bath. As part of the package both cities will introduce a congestion charge.

The news comes as Manchester's bid heads towards a referendum in which the congestion charge element of the proposal is likely to be rejected. This would ensure the TIF money would be withdrawn.

News of Bristol's bid was confirmed to the magazine NCE by the leader of Bristol City Council (BCC) Helen Holland at the Labour Party Conference in Manchester.

The bid would be for up to £1.4bn in government money to improve public transport, and BCC to impose a congestion charging scheme.