Private R&D sector faces uncertainty ahead of chancellor’s spring budget
R&D firms are facing uncertainty ahead of the spring budget, amid concerns over the collapse of Silicon Valley Bank, cuts to R&D tax relief and repayments due for loans issued during the pandemic.
The California-based bank—which specialised in lending to technology companies—collapsed on 10 March in what has been described as the largest bank failure since 2008, sending shockwaves across the sector.
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