Asked by: Rob Roberts (Independent - Delyn)
Question to the Department for Science, Innovation & Technology:
To ask the Secretary of State for Science, Innovation and Technology, with reference to her Department's National semiconductor strategy, published on 19 May 2023, what steps she is taking to ensure adequate focus on manufacturing in the UK.
Answered by Paul Scully
The Government has an ambitious strategy to build on the UK’s strengths in semiconductors to grow our sector, increase our resilience and protect our security.
To deliver our strategy we are investing to £200 million over the years 2023-25 and up to £1 billion in the next decade.
At the Spring Budget, the government announced a £500 million per year package of support for R&D intensive businesses through changes to R&D tax credits. In addition, the government also announced 'Full Expensing' - a £27billion business tax cut – which means the UK now has the joint most generous capital allowance regime of any major developed economy.
We understand that the semiconductor industry faces specific challenges, so we have also committed to announcing plans by the autumn to further support the competitiveness of the semiconductor manufacturing sector that is critical to the UK tech ecosystem or the UK’s national security.