IT IS THE deal that could bring thousands of jobs and millions of pounds worth of investment to Southampton.

Today city council leader Cllr Simon Letts faced a gruelling Dragons Den-style interview process which will decide whether Southampton is successful in its bid for vital City Deal funding.

He travelled to Westminster today alongside Portsmouth City Council leader Gerald Vernon-Jackson to put forward the region’s claim.

They will put forward a presentation before being grilled by the ministers on the finer points of their bid.

As previously reported, the city has teamed up with south coast rival Portsmouth to grab key powers by signing a City Deal.

If the joint bid is successful, it is hoped it could bring in £531m of investment to the region, create 5,000 jobs and 7,500 new apprenticeships and allow 100,000sqm of employment space to be built.

The City Deal could also support 500 small and medium-sized businesses, see 2,000 new homes built and bring 1,000 long-term unemployed people back into employment.

Cllr Letts will also be bidding for £7m to meet a funding gap in the Watermark WestQuay development at the crunch talks in London.

Esplanade The city council’s planning panel will decide next Tuesday whether to delegate powers to grant permission for the plans to the authority’s planning and development manager.

If approved, the development will contain a luxury cinema, restaurants, retail units, an esplanade running along the medieval city walls and a new park.

If the plans get permission and the funding gap is met construction work could begin next spring.

But to unlock that potential, Cllr Letts must first impress a committee of Government ministers at the Houses of Parliament.

Cllr Letts said: “It’s like Dragons’ Den – we are pitching Southampton and Portsmouth in a Dragons’ Den style environment to a collection of senior Government ministers.

“What we’re trying to do through the City Deal is trying to get the Government to back us to the risks which could benefit both cities.”

An announcement on whether the bid has been successful is expected in early September.