Rescue of Silicon Valley Bank UK was necessary to protect Britain's most important tech companies, says chancellor
The implosion of SVB's US-listed parent company, which has been taken into government control, represents one of the biggest global banking collapses since the financial crisis of 2008.
Monday 13 March 2023 08:15, UK
Chancellor Jeremy Hunt said that the rescue of SVB's UK arm by HSBC was necessary to help protect some of Britain's most important tech companies.