speaking on sunday morning, british finance minister jeremy hun said the bank failure poses a serious risk for the technology and lifestyle sectors in the u. k. but there is a serious risk to our technology, a life sciences sectors, many of whom bank with this payment most people wouldn't have heard of silicon valley bank, but it happens to look after the money of some of our most promising and exciting businesses. and so i want to reassure people, i've been in discussions over the weekend until late last night with the chancellor, with the prime minister, the governor of the bank of england. many other people and we are, we're here pace on a solution. now joining me for more is alastair, well then a u. k based consultants specializing in financial regulation. alistair, good to have you with us, or perhaps you can come our worries. how serious is this collapse? are we perhaps looking at the start of the next global financial crisis? well, i don't think it is the start of a, of a 92008 type of financial crisis. this is, there's no doubt that this is a very serious issue for tex dot ups

comes after a cry for help from about 180 tech companies who sent a letter to you. kate chancellor, jeremy huns, colon him to intervene. the loss of deposits has the potential to cripple the sector and set the ecosystem back 20 years. when he businesses will be sent into involuntary liquidation overnight. this crisis will start on monday and so we call on you to prevent it now. and it's not us in the u. k. s. we be had branches in various countries including canada, china, germany, and israel. the concern is that the bank failure could wipe out stops around the world. in china, clients were being urged to stay calm and told that operations there are independent and stable in brazil, founders of sod ups were the 2 hundreds of millions of dollars. as soon as word got out of the imminent collapse bots, not everyone managed to get their funds and sign with a reported $10000000.00 up in the air, you know, who did manage to withdraw money in time as lead these chief executive officer greg becker. he sold $3600000.00 of companies stock less than 2 weeks before this all went down and other interest. in

so i guess is kind of 3 groups that have been the focus of jeremy hun sponges. the 1st are women who have young children. the 2nd are people who have disabilities. and the 3rd are people who are over the age of 50. and i think if we take the groups of people who over 50 and who have disabilities, the numbers of individuals who haven't come back to work have risen after cove. it the exact reason for that is unknown. i think that the hunt budget is assuming that it's down to pensions so that people who are over 50, for example, of don't cost benefit analysis and made an assessment that it's actually worth their wild more to stay at home versus going to work. and the budget tries to tackled us, i think for people who have disabilities. again, it's looking to see what is the type of work that's actually available to them. in the u. k, there tends to be work that is quite well pays and worked as quite poorly paid. and if you find yourself in the bracket where you are quite pre paid, and if you are managing it stability, it may actually be in your best interest, both