The UK plans to subsidize its semiconductor industry in an effort to bring more production in-country.
Semiconductors have become one of the most sought-after commodities in recent years, with countries increasingly worried about the semiconductor supply chain and its impact on national security.
The UK is home to Arm Holdings, one of the major players in the semiconductor market, but the country wants to ensure the integrity of its chip industry and is willing to pay to do so, according to Bloomberg:
An overall figure has not been agreed with the Treasury but it is expected to be single figure billions of pounds, one person familiar with the plans said.
According to an earlier report by the outlet, the UK government is interested in reducing its reliance on Taiwan over concerns of Chinese aggression.
In the meantime, the UK government has declined to comment, saying it will reveal its strategy “in due course.”