Critics say £1bn for UK chip industry not enough

Critics have branded the UK government's delayed £1bn package of support for the semiconductor industry as "insignificant".

By boosting Britain's semiconductor industry "we will grow our economy, create new jobs and stay at the forefront of new technological breakthroughs", Mr Sunak said. US support to its industry under the CHIPS Act totals $52bn, while the EU equivalent will amount to €43bn of aid. Gaurav Gupta of consultants Gartner said the funding was fine for research, but if the ambition was to be competitive with the big players in the field - Nvidia, Qualcomm, Broadcom and AMD then the £1bn was "insignificant".

The strategy will also try to increase the security of chip supply through international partnerships.and critical manufacturing is concentrated in a few countries, such as Taiwan.

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