The UK can’t afford to sit on the sidelines as the US, EU and China carve up the future of growth

Telegraph columnist Juliet Samuel has referenced the latest CPS report, ‘Cashing in our Chips: How to strengthen the UK’s semiconductor industry”, in her most recent article.

Samuel proposes that Britain needs to refresh its understanding of industrial strategy, moving past the “ghosts of the 1970s, when vast caches of decaying, uncompetitive state capacity were kept running purely for the sake of placating unions”.

Instead, she argues, Britain should follow international examples which “avoided becoming captured by producer interests and remained focused on their task: competitive, cutting-edge production”. She gives the example of the recent CPS recommendation to boost semiconductor design and manufacture through “a series of larger and permanent tax credits for investment in R&D and equipment and further subsidies for investment in emerging technologies via the newly established British Business Bank.”

Read the article here.

Date Added: Friday 10th February 2023