Jeremy Hunt warns SVB collapse poses ‘serious risk’ to Britain’s science and tech sector

Jeremy Hunt has warned that the collapse of Silicon Valley Bank poses a "serious risk" to Britain's science and tech sector.

Speaking on Sky news, the chancellor said he wanted to reassure the public that the government is "working at pace on a solution."

Regulators seized the assets of one of Silicon Valley's top banks, leading to chaos for its tech startup customers.

"There is no systemic risk to our financial system," he said, but there is to the "most promising and exciting businesses" in the UK economy.

Click here to sign up for our newsletters.