Speaking to RidgeOnSunday, Jeremy Hunt said the government and the Bank of England were 'absolutely determined' to do everything they could to help support the critical businesses
While Silicon Valley Bank has a limited presence in the UK and does not perform functions critical to the financial system, it has been warned its collapse could have a significant impact on tech start-ups.
"We are working at pace on a solution we will bring forward very soon plans to make sure people are able to meet their cashflow requirements, pay their staff. Asked if that could mean stepping in with taxpayers' money, he said he did not"want to go into what the solution is".
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