Chancellor Rachel Reeves meeting staff at Vishay in Newport at an earlier visit (Image: Kirsty O'Connor / Treasury)

A £10m investment in south Wales' semiconductor industry is expected to be announced in the budget on Wednesday. The UK Government says the move will create high-skilled, well-paid jobs and drive economic growth across the region.

The money will support the semiconductor cluster along the M4 corridor – already home to major employers including IQE, Vishay and KLA in Newport and will be used to support the growth of small and medium enterprises focusing on the technologies critical to artificial intelligence and data centres.

Semiconductors are also crucial to the systems that power the smartphones, electric vehicles and medical devices people rely on every day. Fo

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