- The UK is an island nation

- In event of all undersea cables being cut (which is a serious threat from Russia), satellite internet is your only option to have traffic leave the UK

- Unfortunately most major banks in the UK have very fragile infra that relies on foreign cloud hosts e.g AWS or Azure, which could well fall over in unexpected ways if the UK was cut off from the world

To be clear I disagree with Wes Streeting on a lot of this but the UK is in a uniquely precarious spot when it comes to how much is reliant on internet access.