The Business Secretary Vince Cable is laying out his ideas in a speech today on how to shape the UK's industrial landscape for the next 20 years.

Mike Lynch, founder of Autonomy, believes that the idea of an industrial policy "is a good thing" but points out that there is a "strong health warning on doing it incorrectly".

Economist Frances Cairncross said that in political terms "industrial policy is a pretty loaded term".

She told the Today programme that "one of the components which is missing here is a clear view of what the role of regulation is in industrial policy."

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