Reeves questions government on issues raised by collapse of Silicon Valley Bank

During Treasury questions today, Labour spokesperson Rachel Reeves asked the chancellor about the recent collapse of Silicon Valley Bank.

Reeves said: “The collapse of Silicon Valley Bank UK shows how a vibrant Start-Up sector, particularly in life sciences and tech, have become reliant on a single financial institution. The impacts of these bank failures may be that other banks become more risk averse”.

Chancellor Jeremy Hunt responded: “I said in the Budget that I would return with a full solution to those issues in the Autumn Statement”.