The blacklisting of Mr Farage has been called ‘sinister’
Credit: Julian Simmonds
Jon Sopel has apologised for mocking Nigel Farage over the closure of his Coutts account, adding to pressure on the BBC to address its handling of the story.
Mr Sopel, who was the corporation’s North America editor until 2021, said earlier this month Mr Farage “must feel like a bit of a Charlie” after the BBC reported his account was closed for financial, rather than political, reasons.
But after The Telegraph revealed Coutts gave differing “values” as a reason for the account closures, Mr Sopel wrote: “Dear Nigel, [I] always believed when I get things wrong, I own up to it.
“I got it wrong. Sorry. That will teach me to trust reporting of my old employer. If your political views were even part of the reason why account was suspended from Coutts that is totally reprehensible.”
Mr Farage replied: “Jon, Thank you so very much for those words. I fully accept the apology and wish you well. As broadcasters we now have a duty to fight for free speech for our viewers and listeners.”
It will add to pressure on the BBC, which published an exclusive story on July 4 headlined “Nigel Farage bank account shut for falling below wealth limit”, quoting “people familiar with Coutts’ move” and claiming that it had been a “commercial” decision.
Follow the latest below, and have your say in the comments.
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12:43PM
Find out what your bank thinks about you
Nigel Farage has said he was “debanked” by Coutts after executives compiled a “36-page Stasi-style surveillance report” on his political views.
Writing in the Telegraph he said: “At last, the truth is out about why Coutts decided to close my accounts.
“My fate was sealed at a meeting of the bank’s wealth reputational risk committee on Nov 17, 2022. Executives agreed that, once my mortgage expired, I was to be “de-banked”. I know this because, via a subject access request I have seen the 36-page Stasi-style surveillance report used at that meeting to justify this extraordinary action. This report is, frankly, shocking.”
Banks use vast online databases and internal compliance teams to gather information on customers.
This is standard practice, and a bank can shut a person’s account at any time, with limited notice, for a long list of reasons and are generally not legally required to say why.
James Fitzgerald, our Senior Money Reporter, has more here
12:34PM
Just Stop Oil targets Westminster think tank
12:31PM
Ex-City trader ‘has waited 15 months to learn why Coutts account was shut’
A former City trader debanked by Coutts last year without explanation is among “so many others” to have had their bank accounts closed, Nigel Farage has claimed.
Mr Farage said banks must provide reasons for closing customer accounts in the wake of the Coutts scandal which saw him targeted over his political views.
And while complaints can be submitted to the Financial Ombudsman Service, Mr Farage suggested these are often not dealt with in a timely fashion.
Speaking to Times Radio, Mr Farage claimed a former trader, whom he did not name, had yet to receive an answer as to why his Coutts accounts were shut last year without an apparent explanation.
Jamie Bullen has more on this story
12:01PM
Breaking: No10 defends transgender guidance delay
Downing Street has confirmed Rishi Sunak will not meet his previous commitment to publish transgender guidance for schools before the end of the current term.
The Prime Minister’s official spokesman told reporters: “It is a complex and sensitive issue, it affects the wellbeing of our children. That’s why we are taking additional time to speak to teachers, speak to parents and other additional groups to ensure the guidance meets the high expectations that they have for it, that it can be robust, that it places the wellbeing and safety of children at its heart and ensuring parents are the ones who have the final say.
“It’s not just teachers, obviously, but clearly we need to make sure that this guidance is robust, is clear on our expectations on all sides, whether it’s teachers, parents or schools more broadly. And that’s the work that they’ll all be doing now.”
Asked if the guidance had proven more complicated than first planned, the spokesman replied: “I think we always recognised that this was a complex area and that’s why we’ve seen some of those challenges cropping up in schools themselves. Obviously we want to make sure that guidance is available as soon as possible. It hasn’t been possible to do it this term but we will do it as soon as we are confident we have the requisite guidance we need.”
11:38AM
Telegraph readers urge Dame Alison Rose to stand down
Telegraph readers are calling for Natwest boss Dame Alison Rose to stand down in the comments section. Here’s what a selection of readers are saying:
Stephen Gibson: “Dame Alison Rose, the NatWest chief executive must take responsibility for breaking the code, the political attacks and resign, along with the board of Coutts.”
James Bulloch: “I’d give the head of NatWest 24 hours until she is sacked. Perhaps she might have the honour to resign earlier.
But that doesn’t address the underlying and more fundamental problem of the corporate culture where these sorts of events are created.”
Bradley Horn: “Keep the pressure on. This toxic cancel culture needs to stop. They can’t have it both ways. There’s a few who need to lose their jobs here. And the bank and BBC also need to feel the heat of the toxicity they promote.”
Do you agree that Natwest boss Dame Alison Rose should resign? Join the conversation in the comments section below
11:15AM
Nigel Farage accepts Jon Sopel’s apology
Jon, Thank you so very much for those words. I fully accept the apology and wish you well.
As broadcasters we now have a duty to fight for free speech for our viewers and listeners. https://t.co/HaqhNbBmOv
— Nigel Farage (@Nigel_Farage) July 20, 2023
10:55AM
Jon Sopel apologises for ‘getting it wrong’ over Coutts account closure
A former BBC correspondent who mocked Nigel Farage over Coutts closing his account has apologised to the former Ukip leader, admitting “I got it wrong”.
Jon Sopel, who covered North America for the corporation, said earlier this month Mr Farage “must feel like a bit of a Charlie” after the BBC reported his account was closed for financial, rather than political, reasons.
But after The Telegraph revealed Coutts gave differing “values” as a reason for the account closures, Mr Sopel wrote: “Dear Nigel, [I] always believed when I get things wrong, I own up to it.
“I got it wrong. Sorry. That will teach me to trust reporting of my old employer.
If your political views were even part of the reason why account was suspended from Coutts that is totally reprehensible.”
10:44AM
Breaking: Jon Sopel apologises to Nigel Farage
Dear Nigel,
Always believed when I get things wrong, I own up to it. I got it wrong. Sorry. That will teach me to trust reporting of my old employer 😉 If your political views were even part of the reason why account was suspended from #Coutts that is totally reprehensible
Jon
— Jon Sopel (@jonsopel) July 20, 2023
10:22AM
Uxbridge among three constituencies going to the polls
Danny Beales, Labour’s candidate for Uxbridge and South Ruislip – Boris Johnson’s old constituency – is seen leaving after casting his vote at a polling station
Credit: Jonathan Brady/PA Wire
Steve Tuckwell, the Tory candidate for the seat, also cast his vote this morning
Credit: Carl Court/Getty Images
10:05AM
Why are three by-elections taking place today?
Uxbridge and South Ruislip
Boris Johnson resigned as an MP last month after receiving a draft of the partygate report, which concluded he deliberately misled Parliament. In his resignation letter he branded the investigation a “hitjob” and described the committee hearings as “a kangaroo court”.
Selby and Ainsty
Nigel Adams is an ally of Mr Johnson who resigned less than 24 hours after the former prime minister and Nadine Dorries quit. Mr Adams had been nominated by Mr Johnson for a peerage but, like Ms Dorries, did not make the final list.
Somerton and Frome
In April 2022 David Warbuton was suspended from the Conservatives pending an outcome of an investigaiton into allegations of harassment and drug use. At the start of June 2023 he announced his resignation because he felt he was denied a fair hearing.
9:59AM
Farage: Focus on banking – not woke causes
NatWest and Coutts should prioritise banking over social justice campaigning, Nigel Farage argued this morning.
Mr Farage had particular criticism for Dame Alison Rose, the 53-year-old at the helm of NatWest, telling Times Radio: “Why would somebody who is 39 percent owned by the taxpayer when she takes up a job – a £5 million a year job – say that her priorities were climate change and LGBT rights?
“I would have thought it might be better if she focused on being a bank and making sure that we got our money back at a good price.”
Mr Farage urged the Treasury committee to “convene as quickly as possible” with Dame Alison.
“We need to find out what is the culture within that organisation. Is it acting as a bank or is it now more interested in social engineering? So let’s haul the boss before a committee and let’s ask the relevant questions.”
9:35AM
Coutts’ full statement as bank hits back
We recognise the substantial interest in this case. We cannot comment on the detail given our customer confidentiality obligations. However, it is not Coutts’ policy to close customer accounts solely on the basis of legally held political and personal views.
Decisions to close an account are not taken lightly and involve a number of factors including commercial viability, reputational considerations, and legal and regulatory requirements.
We recognise the critical importance of access to banking. When it became clear that our client was unable to secure banking facilities elsewhere, and as he has confirmed publicly, he was offered alternative banking facilities with NatWest. That offer stands.
We understand the public concern that the processes for ending a customer relationship, and how that is communicated, are not sufficiently transparent. We welcome the anticipated HM Treasury recommendations in this area, alongside the ask to prioritise the review of the regulatory rules relating to politically exposed persons.
We look forward to working with government, the regulator and the wider industry to ensure that universal access to banking is maintained.
9:23AM
Kwasi Kwarteng: ‘Sinister’ that Farage was debanked
Kwasi Kwarteng has described the phenomenon of debanking as “sinister” and called on the Government to fight it.
Mr Kwarteng, a former chancellor, told GB News: “I don’t think it’s the job of a bank essentially to have a test of political or social views – of ‘values’, I think is the word they used – on people holding bank accounts.
Kwasi Kwarteng has condemned Coutts for its ‘sinister’ decision to close Nigel Farage’s account
Credit: Kirsty Wigglesworth/AP
“Now if the money in those accounts is used for illegal purposes, then yes, sure, that’s something to act on. But the idea that Nigel was essentially cast out, simply because of the views he held and has expressed publicly, I think the word that the Home Secretary used was ‘sinister’.
“That’s a sinister development, that’s something we haven’t seen, and I think it’s something that we should fight to prevent spreading.”
9:13AM
‘Vile, personal, nasty’
Nigel Farage has further criticised the 40-page dossier compiled by Coutts which drove the closure of his accounts.
“It was rather like a dossier you’d give to a criminal barrister, you know, ahead of a trial in a murder trial or something like that,” Mr Farage said.
“It is vile, it is prejudiced in the most extraordinary metropolitan elite way.
“It is a really nasty document… At every level, it is vile, is personal, it is nasty.”
8:52AM
Guto Harri: Self-righteous Coutts has created a PR nightmare over Farage
I disagree with Nigel Farage on almost everything. For me, his significant influence on British politics over the last 20 years has been irredeemably destructive, writes Guto Harri.
Yet I’ve shared a pint with him, find him personally engaging, and have to acknowledge his formidable gifts as a communicator.
Using them to attack the RNLI for rescuing drowning migrants in the English Channel should earn him his own circle in hell, and as a volunteer crew member I’d be happy to take him there.
But hell can wait. Last time I checked, given its colourful clientele, Coutts was not in a position to decide who goes through the pearly gates and who faces eternal damnation.
Guto Harri: Why Coutts has serious questions to answer
8:41AM
Nigel Farage welcomes ‘big step in the right direction’
Nigel Farage has hailed a “big step in the right direction” as the Government draws up plans which mean banks face losing their licence if they discriminate against customers based on political beliefs.
Mr Farage told Times Radio that in addition to his own treatment, “what worries me even more are the 1000s of businesses, small businesses who’ve been closed down this year with no reason given to them whatsoever”.
“So the idea that banks will have to give a reason for closing accounts I think is a big step in the right direction. Clearly, at least a notice period matters. But also I think the right to appeal is very important.”
8:30AM
Coutts signed up to scheme which vows to tackle ‘racism, transphobia, classism and xenophobia’
Coutts bank is signed up to a corporate diversity scheme that pledges to tackle “racism, transphobia, classism, sexism, and xenophobia”, Nick Gutteridge reports.
The institution has come under fire after being accused of closing Nigel Farage’s bank account over his views on Brexit, migration and the UK’s net zero policy.
Nigel Farage is unhappy with his treatment by Coutts
Credit: Daniel Leal/AFP via Getty Images
It is a member of the B Corp Certification programme, which rates businesses worldwide based on their record in areas like equity, inclusion and the environment.
The scheme states that “it is not enough to be quietly non-racist and non-sexist” and urges corporate leaders to actively campaign on equality issues.
Read more: ‘It is not enough to be quietly non-racist and non-sexist’
8:05AM
Coutts boss who handled Nigel Farage’s bank account is a staunch Remainer
A top executive at Coutts who handled Nigel Farage’s bank account is an avowed Remainer who has judged a diversity essay prize, writes Neil Johnston.
Camilla Stowell, the bank’s managing director and head of private and commercial clients, described herself as a “Remainer” and said she believed Brexit had damaged the economy.
The 50-year-old, who sits on Coutts’ executive committee, has embraced its pivot towards saving the planet and putting diversity at the heart of the business.
On Tuesday, The Telegraph revealed that Mr Farage’s account was closed after staff on the bank’s reputational risk committee “did not think continuing to bank NF [Nigel Farage] was compatible with Coutts given his publicly stated views that were at odds with our position as an inclusive organisation”.
Read the full story here
7:55AM
Head of NatWest embroiled in Farage scandal
The Grand Ballroom of London’s Langham Hotel is marketed as a luxurious space “where business meets pleasure”, writes Gordon Rayner, our Associate Editor.
With its gilded pillars and spectacular chandeliers, it is the perfect setting for fundraising dinners where the great and the good gather to mix fine dining with philanthropy.
One such occasion was this year’s BBC Correspondents’ Charity Dinner, held in aid of BBC Media Action. It was a glitzy affair, with tables hosted by the likes of Naga Munchetty, Jeremy Vine, Reeta Chakrabarti and Fergus Walsh, whose star power helped to draw in the sort of wealthy individuals who could make the night a success for the charity.
Senior Tory MPs have urged Dame Alison to consider her position
Credit: Nick Ansell
Another of the correspondents attending the event was Simon Jack, the BBC’s business editor and part-time presenter of Radio 4’s flagship Today programme.
Sitting by his side was Dame Alison Rose, the chief executive of NatWest bank. Other guests described them “laughing and joking together” during the meal, as might be expected when the entertainment included comedian and impressionist Jon Culshaw.
Gordon Rayner, our Associate Editor, has more here
7:47AM
Good morning
Dominic Penna here, The Telegraph’s Political Reporter, guiding you through the final day in Westminster before MPs leave for the summer recess.
Nigel Farage has accused Coutts of behaving like Corbynista students after documents showed he was targeted because of his political views.
The former Ukip and Brexit Party leader had his bank account closed by Coutts, a subsidiary of NatWest, after it said he did not align with its “values”.
Speaking to Newsnight about the dossier compiled on him, Mr Farage said: “The vitriol, the bias, the prejudice… It reads like a report read by a postgraduate Corbynista that literally hates everybody with a Conservative view. I was shocked, I was literally shocked.
“This was a personal hit job. It was like a brief to a barrister before a criminal trial. This bank are behaving now like a political campaigning organisation.”
>>> Read full article>>>
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