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UK MPs seeks support for country’s semiconductor sector

Written by Wed 30 Nov 2022

The UK Government needs to do more to ensure the viability of the nation’s semiconductor industry, according to a new report published by the Business, Energy and Industrial Strategy Committee.

A strategy on the UK’s semiconductor industry was supposed to be published but is late and not enough money is being spent by the UK to remain competitive, says the report.

“The government is putting UK plc at significant risk by failing to take action in support of the semiconductor industry,” said Darren Jones MP, Chair of the Business, Energy and Industrial Strategy Committee.

While other countries, including the US and European nations, have invested heavily in this area, the UK faces challenges in getting enough chips for essential purposes unless more action is taken. Global semiconductor shortages have made the news in recent months, with all types of electronic devices in a range of industries including energy, healthcare, computing and transportation needing these chips to function.

In the coming years, semiconductors are only going to get more important for growth and emerging technologies. One potential avenue the UK government could take to improve their standing in this area is to cooperate with the US and their CHIPS Act, as well as enhance connections with Taiwan, who are global leaders in this sector.

It’s estimated that by 2030 the semiconductor industry will be worth more than $1 trillion, up from $500 billion today.

A spokesperson for the UK government said: “We are reviewing our domestic capabilities and working closely with industry and international partners to develop a new semiconductor strategy which will grow the sector further and make sure our supply chains remain resilient. Our strategy will be published as soon as possible.”

Read more: China chip imports fall 12.4% in midst of US tech trade war

Written by Wed 30 Nov 2022

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