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Debanked because of PEP risk:- “WE ARE ALL NIGEL’S NOW”


Former Bank of England economist Andy Haldane has claimed he was debanked like Nigel Farage after being refused an account because of his “POLITICAL” CONNECTIONS.

Mr Haldane said he was turned down by an unnamed lender last year, which told him the decision was:-

  • “Because you are politically connected by working for the Bank of England.”

In a speech on Wednesday night at the Royal Society of Arts, where Mr Haldane is now chief executive, he said:

  • “Three problems with that:
    • One, I wasn’t working for the Bank of England [by that point].
    • Two, the Bank of England is, by statute, independent from the government.
    • Third, the Bank of England was their regulator, so the risk was to their regulator.”

Mr Haldane referenced Mr Farage, whose bank account was closed last year, and highlighted the story with a point on a slideshow saying, “WE ARE ALL NIGEL’S NOW,” –

The anecdote formed part of Mr Haldane’s argument that regulation had gone too far in the City and was now crushing growth by putting off any risk-taking.

The Bank’s former chief economist said regulations with “the best of intentions” were “CHILLING RISK APPETITE AND FORESTALLING INVESTING”.

He said many new rules the government and regulators introduced were “PENNY WISE BUT POUND FOOLISH”



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