MPs took evidence from former Conservative Cabinet minister Lord Heseltine on strategic thinking in government on 5 December 2012.
Lord Heseltine, the former Deputy Prime Minister, recently published a report urging the government to take bolder action to stimulate the economy.
He wants to devolve power from London to the English regions, and "re-invigorate" big cities such as Birmingham, Manchester and Newcastle.
The report makes 89 recommendations to help industry. One of its key aims is to move £49bn from central government to the English regions to help local leaders and businesses.
The Chancellor George Osborne has said he would "study it [the report] very carefully".