Bradford Council is making a “call for action” for everyone to play their part in revitalising the district’s economy.

It has drawn up a new two-year economy strategy with the Bradford Regeneration and Prosperity Partnership – which consists of representatives from the Council, Bradford chambers of commerce and trade, and both the business and voluntary sectors.

It is predicted that the district will see a reduction of more than £1 billion in public spending by 2015.

Market failure, low wages and skills also stand in the way of recovery at a time when the Government cuts leave the Council’s capacity to intervene using taxpayers’ money at its lowest in a generation.

A 24-page document, setting out the strategy, explains how the Council can work with its partners to create the best possible conditions for sustainable economic growth.

Bradford must overcome the need to find 14,600 new private sector jobs to replace the jobs lost due to public sector spending cuts and maintain the current employment rates over the next four years.

The centre accounts for a fifth of the district’s jobs but it is dogged by “market failure”, not least the stalled Westfield shopping centre. Its retail offer is limited, its central business district needs recreating to attract investment and its evening economy is under-developed.

The strategy explains how the Council must evolve into an ‘enabler’ rather than direct funder of schemes and people’s entrepreneurial skills need developing.

Bradford has a powerful culture of entrepreneurship. In the five years to September 2009, the district experienced the highest growth in self-employment of any city in the UK.

Councillor Dave Green, the Council’s executive member for regeneration and economy, said: “We need to support partners – particularly those from the private sector – in working together and bringing their own resources, knowledge and influence to achieve results for the district."

Sandy Needham, chief executive of Bradford Chamber of Commerce, said: “The critical thing is not who delivers what but that we are all working together towards the same ambitions and this economic strategy is a welcome step in that direction.”