Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, what steps he plans to take with the UK Infrastructure Bank to support the semiconductor industry.

This government recognises the strategic importance of semiconductors as a critical technology for the future of the UK and a significant enabler of the government’s growth and clean energy missions. We have announced our plan to align key government finance institutions, such as the UK Infrastructure Bank, under the National Wealth Fund, which will boost growth and unlock investment in sectors like the semiconductor industry.

The government is working at pace to establish the National Wealth Fund and the Chancellor will set out more detail at the international investment summit in October.