The UK government plans to provide subsidies to domestic semiconductor manufacturers, Bloomberg reported on Wednesday, citing its own sources.
Support will include seed investment in start-ups, helping existing companies scale, and stimulating private capital investment.
An interdepartmental working group will also be created to coordinate state support measures and private initiatives in the field of production of compound semiconductors (compound semiconductors) used in the latest technologies like 5G or in electric vehicles over the next three years.
The amount of funding has not yet been determined, according to sources, they will amount to "billions of pounds."
Asked for comment by Bloomberg, the government said it would not comment on speculation, Reuters notes , adding that the UK's semiconductor strategy "will be released in due course".
Earlier in January, the leaders of a number of British IT companies sent an open letter to the Prime Minister, reproaching the government that the strategy for the development of the semiconductor industry in the country has not yet been approved, while China, the United States and the European Union have already begun to protect their "semiconductor industry"independence".