Jeremy Hunt announces move after meetings with Rishi Sunak and Bank of England governor over ‘high priority’ issueThe UK government is drawing up plans for an emergency cash lifeline for tech firms hit by the collapse of Silicon Valley Bank UK (SVB UK), as the chancellor warned the sector was at “serious risk”.Jeremy Hunt said the issue was a “high priority” for the government, and that he had been locked in late-night meetings with the prime minister, Rishi Sunak, and the Bank of England governor, Andrew Bailey, in an attempt to avoid further fallout from the collapse of SVB UK’s American parent company on Friday. It marked the largest failure of a bank since the 2008 financial crisis. Continue reading...
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