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Somehow it seems appropriate that the government might be basing some of its hopes for the economy's recovery on a substance that is one atom thick. The substance in question – graphene – 200 times as strong as steel, seems to some designed to carry the weight of almost anything – but George Osborne's Plan A? That would indeed make it a miracle material.

Nevertheless the chancellor made a detour from the Tory conference in Blackpool in September to visit Manchester University, graphene's spiritual home, and to announce a £50m investment. Graphene is claimed by some as an innovation that will prove as revolutionary as the silicon chip, or even plastics, both of which it may supersede. A poster campaign around Manchester currently reminds you that the industrial revolution was born in the city at the beginning of the 19th century. Two hundred years on the challenge is to keep the "graphene revolution" in the north west, too.

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