The (draft / emerging) 1Core Strategy seems to hint at a bus loop (Policy UC7) and a motor vehicle "ring road" (Policy UC9) too. It mentions pedestrian routes but there's no mention of cycle routes. See attached photo. (I didn't mark up the map, as it might become a tad too messy)

The "ring road" is just like Scott / esde84 described before http://newcycling.org/space4cycling/part2 (in comments)

The photo in the attachment is from "Newcastle Proposals Map" listed here http://onecorestrategyng-consult.limehouse.co.uk/portal/examination_library (not sure how long thi link will stay live, link rot may happen)