Two years after the release of its first UK Plan for Chips report, techUK has published an updated review, urging the UK government to accelerate the implementation of its ambitious National Semiconductor Strategy.
Semiconductors are the foundation of modern digital technology, powering everything from day to-day consumer electronics, vehicles, defence, healthcare to the data centres powering AI. As the industry is projected to reach a $1tn by 2030, securing the UK’s position in this critical sector is essential for economic growth, technological leadership, and national resilience.
techUK welcomed the publication of the National Semiconductor Strategy in 2023, which incorporated key recommendations from its UK Plan for Chips. However, while the strategy set a strong vision, progress since its launch has been incremental. To ensure the UK capitalises on its semiconductor potential, decisive action is now required.
Commenting on the announcement Richard Price, CTO of the biggest semiconductor manufacturer in the UK, Pragmatic Semiconductor, and one of the chip firms called out as a success story in the report, backed techUK’s call to accelerate the semiconductor strategy and urged for better support for the UK industry.
He commented: “techUK rightly emphasises the urgent need to accelerate the UK’s National Semiconductor Strategy. Semiconductors are the backbone of modern technology, and securing the UK’s role in this fast-growing industry is vital for economic growth, innovation and resilience.
“Core value creation lies in semiconductor manufacturing, which has significant potential to boost the UK’s economy. Europe and the US are already investing heavily; competitive incentives in areas such as capital investment are urgently needed to level the playing field.
“The UK government must act on this report, focusing support on fast-growing businesses to unlock the full potential of the sector and stay competitive in a global market poised to reach $1tn by 2030.”
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