U.K. semiconductor bosses are pleading with the government for subsidies amid fears that some chip firms will be forced to move overseas.
, a microchip firm in the semiconductor "cluster" in Newport, Wales, has also warned it may be forced to relocate to the U.S. or EU if the government does not act in the next six months.
China, too, has been forced to revamp its chip strategy after facing strict trade sanctions from the U.S. In December, the country wasU.K. tech industry executives have said the lack of a similar strategy from the government is hurting the country's competitiveness. On Feb. 3, lawmakers on the Business, Energy and Industrial Strategy committee called for government action on the semiconductor industry, labeling the lack of a coherent microchip strategy an "act of national self harm."under a reshuffle from Prime Minister Rishi Sunak.
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