IEA Economics Fellow Julian Jessop has been quoted in The Telegraph urging the Chancellor not to bailout Silicon Valley Bank’s UK branch after its collapse in the United States.

Julian said:

“Private businesses should certainly not expect taxpayer bailouts just because they happen to be cash-rich start-ups, or operate in the tech sector,

“SVB’s UK subsidiary appears to be well capitalised and solvent… The threat of wider contagion also seems limited,

“The Government should simply ensure there is enough short-term liquidity to meet operational and cashflow needs – which seems to be the plan.”

Read the full piece here.