Ministers have been accused of running a “project kowtow” by failing to block the sale of a British microchip manufacturer to a Chinese-backed company. Conservative former leader Sir Iain Duncan Smith warned the Government is in an “unholy mess” over its approach to business deals involving China. Newport Wafer Fab, based in Newport, South Wales, has been the subject of a takeover by Chinese-owned Nexperia. Business minister Amanda Solloway said the Government does not plan to intervene “at the current time,” although Prime Minister Boris Johnson has asked national security adviser Sir Stephen Lovegrove to examine the sale. Speaking in the Commons, Duncan Smith was among several Conservative MPs to voice concerns—including over the lack of use of powers that enable ministers to intervene in business deals that may pose a national security risk. He said: “I think the Government is in an unholy mess over this. “It is no …