Allies rally around Nigel Farage after Coutts closes bank account ‘over values’
Ministers have rallied around former Brexit Party leader Nigel Farage after private bank Coutts closed his account.
The company had reportedly decided that the politician’s views do ‘not align with our values’.
Energy Security Secretary Grant Shapps fumed the decision was ‘absolutely disgraceful’, while Treasury minister Andrew Griffith added it raised ‘serious concern’.
Eurosceptic Mr Farage has handed the Mail Online 40 pages of documents he obtained after making a subject access request to Coutts after its decision to shut his account.
According to the report, the bank’s dossier cited his retweet of a Ricky Gervais joke about trans women and his friendship with tennis player Novak Djokovic, who was against being vaccinated against Covid, to flag concerns Mr Farage is ‘xenophobic and racist’.
Mr Farage said his experience has left him fearing the UK is moving towards a ‘Chinese-style social credit system’ where only those with ‘acceptable views’ can participate in society.
It comes as ministers refused to rule out introducing legislation to crackdown on banks closing accounts due to a customer’s political views.
Mr Shapps told Sky News the Financial Conduct Authority, the sector watchdog, ‘does need to do more on this’.
Asked if the law should be changed, he said: ‘Maybe. We will do whatever is required, but in the first place the Financial Conduct Authority needs to get a grip of this.’
The Cabinet minister added: ‘I don’t have to agree with everything Nigel Farage says to recognise that free speech is a very important part of our domestic life.
‘People shouldn’t have their bank accounts closed because of their political or any other view.’
Mr Farage, who also led the Brexit-backing UK Independence Party (Ukip), said his treatment by Coutts raised issues about the culture at NatWest, which owns the 17th century bank.
He said its dossier was ‘prejudicial’ and ‘full of bile’, adding: ‘If you are a NatWest customer and supported Brexit they probably think the same about you.’
The BBC previously suggested the anti-European Union campaigner fell below the financial threshold needed to have a Coutts account.
Coutts requires its customers to borrow or invest at least £1 million or save at least £3 million, according to an eligibility questionnaire on its website.
But, according to the files handed by Mr Farage to the Mail Online, officials said closing his accounts could not be justified on the basis of his wealth as his ‘economic contribution’ was ‘sufficient to retain on a commercial basis’.
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