Rishi Sunak wades into Nigel Farage bank row and dishes out blunt PMQs warning to Coutts

Rishi Sunak questioned about Nigel Farage Coutts scandal

Rishi Sunak has intervened in the Nigel Farage banking row after Jacob Rees-Mogg and David Davis raised the scandal at PMQs.

The Prime Minister said it “wouldn’t be right if financial services were being denied to anyone exercising their right to lawful free speech”.

He also promised that a new Government Bill, the financial services and markets act, will put in place new measures to ensure politically exposed persons are treated in an “appropriate and proportionate manner”.

He said: “We are in the process of cracking down on this practice.”

Mr Rees-Mogg, Mr Farage’s colleague at GB News, rose to ask whether the PM shares his “unease” that a bank “that has the Government as its largest shareholder, should close the account of a senior opposition politician?”

Mr Rees-Mogg raised the topic at PMQs (Image: Parliament Live)

He said: “Will he use the Government’s shareholding to ensure that there is an inquiry into these circumstances, because the Subject Access Request makes it clear – or certainly indicates – that it is the person concerned’s political views that led to his cancellation.

“And does my Hon. Friend agree with me that however much we may find them tiresome, members of the opposition deserve bank accounts?”

Fellow Tory MP David Davis also raised the row, naming Nigel Farage in the commons and demanding to know what the Government can do now rather than its future plans.

He said: “The opposition politician he was referring to, of course, was Nigel Farage whose bank account was closed not because he was a PEP, not for commercial reasons, but because his views did not align with the values of Coutts Bank – thinly-veiled political discrimination.

“In addition, Natwest also disclosed confidential details about Farage’s account to the BBC and lied about the commercial viability of his account – actions which ought to jeopardise its banking licence and should certainly worry Natwest’s 19 million other customers.”

Mr Sunak said the government is acting quickly to address the scandal (Image: Parliament Live)

Mr Davis said there are “many other people” in Mr Farage’s circumstances, and demanded the PM force every bank with a British banking licence to inform the Treasury how many accounts they’ve closed for similar reasons.

Mr Sunak said he intends to crack down on the practices of banks closing accounts for political reasons by toughening rules, but “in the meantime, the financial ombudsmen is available to make complaints to”.

Mr Farage subsequently thanked Mr Rees-Mogg for raising the topic at PMQs.

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David Davis also raised the row (Image: Parliament Live)

Mr Farage demanded an apology from the BBC this morning after they unquestioningly published claims from Coutts that they had cut ties with the former Brexit Party leader for falling below the £1million savings threshold.

However a subject access request by Mr Farage revealed an internal dossier compiled by the bank, showing the decision was in fact because of his pro-Brexit and pro-Trump views.

The BBC reporter who reaped thousands of shares on Twitter over the pro-Coutts claim, Simon Jack, tweeted another statement from the bank last night after Nigel Farage’s revelations on GB News.

Mr Farage said the tweet was “mealy-mouthed” and “not enough”.

He demanded an official apology from the BBC and said they “must correct their original story about me”.

“I will be making a complaint.”

Mr Farage has received support from across the Conservative Party this morning, including city minister Andrew Griffith, Grant Shapps and Suella Braverman.

Ms Braverman said the Coutts scandal “exposes the sinister nature of much of the Diversity, Equity & Inclusion industry”.

“Apparently anyone who wants to control our borders & stop the boats can be branded ‘xenophobic’ & have their bank account closed in the name of ‘inclusivity’.

“Natwest & other corporates who have naively adopted this politically biased dogma need a major rethink.

“This is also an issue for the public sector too, which is why I’m reviewing our policies at the Home Office.”

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