Sir Paul Speaks

Sir Paul co-founded the Liverpool Institute for Performing Arts (Lipa) in 1996. Based in the musician's old school, the Liverpool Institute High School for Boys, it offers degree courses in music, alongside drama and dance.

"It was an early decision when we were thinking of our policies for Lipa, we said: 'We want to train people to be all-rounders,'" he said.

"Give them as much info as we can. But you can't tell them how to become a Bob Dylan or a John Lennon because, you know, nobody knows how that happens."

Answering another question on the current state of the music industry, the star said he did not think modern technology resulted in better records.

"We would record four tracks in a day - which is unheard of now - and those four tracks still sell more than most contemporary records. So obviously the system was pretty good. It was very simple, you had to just be very disciplined... we knew we had to play great," he said.

"Whereas now you know you go: 'We'll do another take or we'll get it in the mix, we'll just take that bum note out, we'll stick it on Pro-Tools, we'll fix it.' But it gives you, I think, too many options.

"It's great, it's very luxurious, but I don't think it helps the process."