Semiconductors: Finance
The question
To ask the Secretary of State for Science, Innovation and Technology, whether she has had recent discussions with the Chancellor of the Exchequer on funding for the national semiconductor strategy.
Answered by Kanishka Narayan
Semiconductors have been confirmed by the UK government as one of six priority frontier technologies in the recently published Industrial Strategy Digital and Technologies sector plan. During the development of the Industrial Strategy, the Department met regularly with HM Treasury and the Department for Business and Trade to discuss how to best support the frontier technologies, including semiconductors.
This led to several announcements including £19 million for a new UK Semiconductor Centre to coordinate the sector and act as a “front door” for international cooperation, £35 million towards a UK-wide skills programme to grow the talent pipeline, and £25 million for two new “Innovation and Knowledge Centres” that will enable researchers to work with industry to commercialise research in emerging semiconductor technologies.
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