The city will find out whether it is successful next month

The city's bidding team was due to travel to London for a 90-minute grilling by a panel of 12 judges, who will announce the winner in June.

Estimates by the city council suggest a successful bid would create about 14,000 jobs, attract an extra 1.2m visitors and generate �2bn in investment.

The team said it has prepared a detailed plan to deliver "the most spectacular celebration of culture" in the history of Europe.

Sir Bob Scott, who is leading the bidding team, said: "Without doubt, this is the most important 90 minutes in Liverpool's recent history.

'Forward thinking'

"This will shape the future of the city for many generations to come.

"Winning would catapult Liverpool into the premier league of European cities."

It is promising a year-long festival featuring art, architecture, ballet, comedy, cinema, food, fashion, literature, music, opera, science and theatre.

Supporters of the bid point to the beginning of a �750m regeneration of the city centre as evidence of its forward thinking attitude.

Its famous waterfront is also the UK's only nomination to receive World Heritage Status.