Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Technology leaders press the PM on semiconductor policy

by January 25, 2023
January 25, 2023
Technology leaders press the PM on semiconductor policy

The government’s continued failure to produce a strategy for the vital semiconductor industry puts Britain’s status as a leader in the tech sector at risk, sector stalwarts have warned.

In a letter to the prime minister, signatories including Hermann Hauser, the founder of Acorn, which spun out the semiconductor giant Arm; Jillian Hughes, network director at NMI, which represents the semiconductor sector; and industry groups TechUK and Global Tech Advocates spelt out their frustration at the lack of any plan after two years of waiting.

“Semiconductors are the vital components that power our lives every day. Britain has traditionally been a world leader in the field — home to world-leading chip design companies and leaders in the compound semiconductor segment,” they wrote. “Confidence in the government’s ability to address the vital importance of the industry is steadily declining with each month of inaction.”

The shortage of semiconductors during the pandemic halted manufacturing in some sectors and caused a scarcity of electronic goods, though this raised awareness of their critical importance.

The US has put $50 billion behind its microchip industry and the EU has put in more than €43 billion, with a view to doubling its global market share in semiconductors to 20 per cent by 2030.

The letter said: “The issue bears relevance to geopolitical affairs, too. Taiwan produces over 90 per cent of the world’s advanced chips and has commanded significant influence as the most fruitful manufacturer of semiconductors. Given this nation is at the centre of tensions between China and the West, it is paramount that global dependence on Taiwan is addressed.”

In a separate intervention, TechUK, the industry trade body, has set out a five-point plan of what it would like to see from the government strategy whenever it emerges, asking the government to focus on the UK’s strength in semiconductor design and intellectual property. The plan includes encouraging investment, and addressing skills and funding gaps.

“If the UK government is to fulfil its ambition to become a science and technology superpower, we need to be a global player in the semiconductor industry,” it said.

A spokeswoman for the Department of Digital, Culture, Media and Sport said: “Our strategy will be published as soon as possible. We are reviewing our domestic capabilities to develop a new semiconductor strategy which will grow the sector further and make sure our supply chains remain resilient.”

Read more:
Technology leaders press the PM on semiconductor policy

0
FacebookTwitterGoogle +Pinterest
previous post
Homeworking means over an hour extra time to work each day
next post
UK economy growth prospects gloomier than predictions leaving Hunt with budget black hole

You may also like

Entrepreneur turned away from London Tech Week for...

June 11, 2025

UK businesses turn to temp staff amid recession...

May 10, 2023

Supply chains remain a major problem for Mini

August 4, 2022

Eamonn Holmes loses appeal over tax ruling

March 30, 2023

UK energy bills to fall by £129 from...

May 23, 2025

Twitter joins long list of tech firms ‘Unprepared’...

April 26, 2023

Sunak set to announce plans to abolish Inheritance...

September 24, 2023

Titanic shipbuilder Harland & Wolff set for £70m...

December 18, 2024

NatWest cuts Alison Rose’s exit payout by £7.6m...

November 10, 2023

Olive oil prices set to halve as Mediterranean...

October 5, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Friday Feature: Helena Homeschool Enrichment Co-op

      August 22, 2025
    • Justice Jackson accuses Supreme Court of ensuring Trump ‘always wins’ in scathing dissent

      August 22, 2025
    • John Bolton blasted by Trump ally Roger Stone, who faced Biden FBI raid: ‘Karma is a b—-‘

      August 22, 2025
    • Trump–Bolton feud back in focus after FBI raid: ‘Never had a clue … what a dope!’

      August 22, 2025
    • James Comer praises Kash Patel for ‘holding deep state accountable’ as FBI raids John Bolton’s home

      August 22, 2025
    • From Tariff Shock to Mild Sting: How the EU Deal Could Affect Drug Prices for Patients

      August 22, 2025

    Categories

    • Business (8,855)
    • Investing (2,234)
    • Politics (16,463)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved