UK PM Sunak recognises ‘anxiety’ over Silicon Valley Bank collapse

LONDON: British Prime Minister Rishi Sunak said on Sunday he recognised the “anxiety” over the collapse of Silicon Valley Bank but his government was working to find a solution that will secure customers’ liquidity and cashflow needs.

The government is trying to limit the damage to British tech companies resulting from the chaos engulfing the UK arm of the lender.

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Sunak told journalists travelling to the United States that he understood “the anxiety and the concerns customers of the bank have” and that the government was “making sure we can work to find a solution that secures people’s operational liquidity and cash-flow needs”.