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SVB Failure Sparks UK Rush to Scrub ‘Silicon Valley’ From Budget
The collapse of Silicon Valley Bank has ignited a debate within the UK government over whether to include the words “Silicon Valley” in its budget statement on Wednesday. In a budget expected to lean heavily on Prime Minister Rishi Sunak’s desire to boost the UK’s science and technology industries, Treasury officials are considering scrapping or reducing the number of times Chancellor of the Exchequer Jeremy Hunt mentions the world’s most famous innovation hub in his speech. Any changes would be made to avoid confusion, according to a person with knowledge of the conversations. SVB’s collapse threatened ... (full story)