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Britain unveils $1.2B strategy to boost computer chip industry
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FILE - A visitor to the 21st China Beijing International High-tech Expo looks at a computer chip through the microscope displayed by the state-controlled Tsinghua Unigroup project which has emerged as a national champion for Beijing's semiconductor ambitions in Beijing, on May 17, 2018. Britain's government unveiled its long-awaited semiconductor strategy Friday, May 19, 2023 catching up with similar efforts by Western allies seeking to reduce reliance on Asian production of the computer chips that are essential to modern life. - photo by AP Photo/Ng Han Guan, File
LONDON (AP) — Britain's government unveiled its long-awaited semiconductor strategy Friday, catching up with similar efforts by Western allies seeking to reduce reliance on Asian production of the computer chips that are essential to modern life. Under U.K. plan, the country's semiconductor industry will get up to 1 billion pounds ($1.2 billion) in government investment over the next decade. The amount is dwarfed by the U.S. Chips Act, which provides $52 billion in government incentives, and the European Union's $43 billion euro ($46 billion) chip program.