UK PM plans to allocate just £1bn to semiconductor industry

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UK PM Sunak plans to allocate just £1bn to semiconductor industry

UK Prime Minister Rishi Sunak is said to be preparing a £1 billion investment for the country’s semiconductor industry, as chip companies threaten to relocate elsewhere if sufficient government support is not forthcoming.

By contrast, it is claimed that Britain’s strategy is likely to focus on how to scale up existing chip design and manufacturing companies, secure supply chains and address skills shortages, rather than joining the global subsidy race, which may go some way to explaining the paltry sum. According to Gordon, if £1 billion in funding is forthcoming, it will most likely be targeted at specialist niches and at specific points in the semiconductor value chain.“In the grand scheme of public spending, a billion is not even a rounding error. We already know what the 'UK chip strategy' will be; it will cherry pick a few areas where we think we might have some expertise , but which does not require multi-billion investment, such as compound semiconductors,” he explained.

 

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