Peers debated a report by former Conservative Cabinet minister Lord Heseltine entitled No Stone Unturned In Pursuit of Growth, on 6 December 2012.
Lord Heseltine, a former deputy prime minister, recently published a
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.
Chancellor George Osborne has said he will "study it [the report] very carefully".