Wakefield Council is considering creative uses for vacant premises to protect the streets from crime and economic rot during the downturn.

On Tuesday the government announced that £3m would be made available to help councils rent out empty shops temporarily and bring farmers markets to town centres.

Council bosses said exhibition spaces were among plans being considered for Wakefield as the economy was this week predicted to shrink further in the second quarter of 2009.

Denise Jeffery, deputy council leader with responsibility for regeneration, said: "We are actively exploring a number of possibilities.

"This includes the opportunity to use empty premises for exhibitions, and we welcome any creative ideas to boost the city centre. We will consider all the options open to us."

The government scheme was announced after bleak figures showed 4,600 companies went bust in England and Wales in the past three months of 2008, with retail and property firms hit particularly hard.

Coun Jeffery said there had been major investment in Wakefield city centre, with regeneration of public spaces including the Bull Ring and Crown Court Yard.

But she added: "However, we never like to see any shops empty in the city centre and always do everything we can to make sure they are occupied as soon as possible."