The UK government has published its long-awaited semiconductor strategy, with £1B earmarked for research and development over the next decade. But why are chips seen as the new oil and can the UK compete with the vast sums being pledged by other nations?

Bloomberg's Thomas Seal and Tom Mackenzie explain everything you need to know about these electronic brains and why they've become a global hot commodity. Then industry experts Scott White, founder of Pragmatic, and Tech London Advocates' Russ Shaw weigh in on the government's plan. Hosted by Yuan Potts, Caroline Hepker & Lizzy Burden.