Farage praises Government plans to revoke banks licences over free speech curbs

Farage praises Government plans to revoke banks’ licences over free speech curbs

Nigel Farage has praised the Government following reports ministers are considering making new laws to stop banks closing customers’ accounts because they disagree with their political views.

The former Ukip leader said MPs are “beginning to realise that this system is coming for them as well” after his bank accounts were closed by Coutts because his views “did not align with” the its values.

Under plans to protect free speech, banks could lose their licences if they turn people away, The Times reported.

Speaking to the PA news agency, Mr Farage said: “Well done, the Government.

“I think this is one of the swiftest interventions I’ve seen by Government for many, many years.

“And I think that’s because this problem of the way banks have been behaving has been building up for years and years and years.

“Every MP will know of constituents, small businessmen and women who’ve literally been shut down by their banks with no reason given whatsoever.

“I also think that because of the politically exposed persons rule, I think they’re beginning to realise that this system is coming for them as well.”

Mr Farage said there is “a real sense of anger” among the public who bailed out banks during the 2008 financial crisis that they “can now treat us with contempt”.

The closure of Mr Farage’s accounts sparked outrage among senior Tory MPs, who have piled pressure on Coutts and its owner NatWest.

The Treasury is expected to announce plans as soon as next week to extend the notice time given to customers to close their accounts from one month to three months, The Times said.

Banks will also have to give an explanation of why the accounts are being closed and customers will be able to appeal the decision

Published: by Radio NewsHub

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