Lord Heseltine, the former Conservative Party deputy prime Minister will launch his No Stone Unturned report in Birmingham today which highlights 89 recommendations to help industry. As he believes the government needs to take bolder action to stimulate the economy.

The report focuses on a strategy for growth and wealth creation. Which he believes will be achieved by a major devolution of funding. Making a smaller and more skilled government machine, to devolve power from Whitehall and re-invigorate the big cities that had fuelled the growth and wealth that the UK had experienced in past decades. Also enhance the standing of Local Economic Partnerships to bring together private and public sectors and a high profile role for employers in education. He also suggested creating a national growth council, chaired by the Prime Minister, with a cross-government focus on driving growth.

Mr Osborne in response said the report provided food for thought. He then added "I wanted Lord Heseltine to do what he does best: challenge received wisdom and gives us ideas on how to bring government and industry together." Business Secretary Vince Cable also added his voice saying, 'he would also be considering the report and would respond in the coming months.'

Written and presented by Ann Salter