Cities should establish new bodies to coordinate and finance attempts to extend prosperity more widely, according to a think tank report.
Centre for Cities says the 'inclusive growth investment commissions' would work with public and private partners to develop, coordinate and finance polices aimed at increasing prosperity for more people.
Its report, 'Funding and financing inclusive growth in cities', produced with the Joseph Rowntree Foundation, focuses on how local government can boost employment and wages and help people access opportunities.
The three main objectives would be to identify barriers to achieving inclusive growth, develop financial mechanisms and coordinate spending.
This could include raising money through workplace parking levies and increasing support for 'responsible finance providers' and 'local asset backed vehicles'.
Centre for Cities chief executive Andrew Carter said: 'Concerns about poverty and exclusion are among the key political issues of our age.
'But local authorities do not have the finance or scope to tackle these issues alone, and nor should they be expected to.
'Instead, city leaders should bring together public, private and community actors to collaborate on efforts to extend growth and prosperity to more people across their areas.'