UK targets light-touch regulation to boost tech sector, minister says

FILE PHOTO: Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration

LONDON (Reuters) - Britain launched a digital strategy on Monday focused on simplifying regulation, supporting critical technologies like semiconductors and tackling skills gaps to help drive economic growth.

Tech minister Chris Philp said UK firms had raised more than 12 billion pounds ($14.6 billion) in venture capital so far this year, second only to the United States, and the new plan would ensure the country remained a science and tech superpower.