Britain unveils $1.2 billion strategy to boost computer chip industry

Britain’s government unveiled its long-awaited semiconductor strategy Friday, catching up with similar efforts by Western allies seeking to reduce reliance on Asian production of the computer chips that are essential to modern life.

Under U.K. plan, the country’s semiconductor industry will get up to 1 billion pounds ($1.2 billion) in government investment over the next decade. The amount is dwarfed by the U.S. Chips Act, which provides $52 billion in government incentives, and the European Union’s $43 billion euro ($46 billion) chip program.

The money provided by the British government will be focused on research and development, design and intellectual property and on cutting-edge compound semiconductors. The first 200 million pounds will be provided between 2023 and 2025.