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Nigel Farage’s bank account being closed has now led to a BBC apology and NatWest’s boss resigning. 

How did we get here – and why was the account really closed?

Here’s how the controversy unfolded.

Nigel Farage’s account is closed

At the end of June, Mr Farage said a bank – later confirmed as Coutts – had decided to stop doing business with him.

He said a letter from the bank contained no explanation and he had then been told over the phone it was a “commercial decision”.

In the six-minute video posted on Twitter, he said losing his bank account was the equivalent of being a “non person” and that the decision may “fundamentally affect [his] future career and whether [he] can even go on staying living here in this country”.

“The establishment are trying to force me out of the UK by closing my bank accounts,” the caption read.

In a second Twitter video, he said he had been rejected from having bank accounts by nine different companies.

He said NatWest, the owner of Coutts, offered him an account after his announcement last week, but it was not suitable because it was a personal and not a business account.

MR Farage claimed banks did not want him as a customer due to him being a “politically exposed person“, or PEP.

A PEP is someone who holds or has held public office and therefore may be more susceptible to bribery or corruption.

BBC claims Farage didn’t have enough money

On 4 July, a BBC report claimed the bank did not want his custom because he did not have enough money in his accounts.

The prestigious private bank requires clients to have at least £1m in investments or borrowing – including a mortgage – or £3m in savings.

The BBC reported that Mr Farage’s political opinions were not a factor in the decision.

But it turned out this wasn’t the case.

Nigel Farage Pic: AP
Image:
Pic: AP

Coutts’ dossier on Farage

After Coutts first told him they were cutting ties, Mr Farage submitted a subject access request to them.

He then received a 40-page document detailing all of the evidence Coutts accumulated about him to feed back to its Wealth Reputational Risk Committee.

It revealed staff at the bank spent months compiling evidence on the “significant reputational risks of being associated with him”.

The main risks were:

  • Reputational – as Mr Farage is “high profile” and “actively courts controversy”
  • Financial crime – due to “alleged Russia connections”

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Farage: ‘I was shocked with the vitriol’

The document – reported on 18 July – suggested the move was taken partly because his views did not align with the firm’s “values”, including his position on LGBTQ+ rights and friendship with former US president Donald Trump.

Ultimately it concluded the Mr Farage’s views were “at odds with our position as an inclusive organisation”.

Prime Minister Rishi Sunak commented on the issue, tweeting: “This is wrong. No one should be barred from using basic services for their political views. Free speech is the cornerstone of our democracy.”

Read more:
Minister summons bank bosses after Farage account closure
Nigel Farage on ‘vitriol’ in Coutts’ dossier

The BBC apologises

On 24 July, the BBC issued an apology to Mr Farage over the story “which turned out not to be accurate”.

In a statement, the broadcaster said: “We acknowledge that the information we reported – that Coutts’ decision on Mr Farage’s account did not involve considerations about his political views – turned out not to be accurate and have apologised to Mr Farage.”

NatWest boss resigns

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NatWest boss resigns over Farage row

NatWest chief executive Dame Alison Rose resigned on 26 July after admitting to being the source of an inaccurate story about Mr Farage’s bank account.

The resignation was expected in the wake of briefings by Downing Street that she had lost the confidence of the prime minister and chancellor.

It came after she apologised to Mr Farage for the “deeply inappropriate comments” made about him in documents prepared for the company’s wealth committee.

She said the remarks “did not reflect the view of the bank”, which has now offered him “alternative banking arrangements”.

10 banks turned down Farage after Coutts closure

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Farage: ’10 banks turned me down’

Speaking to Sky News after Dame Alison’s resignation, Mr Farage said 10 banks had turned him down after Coutts decided to close his account.

The former Brexit Party leader would not name the banks, but said: “I don’t want to take on the whole industry.”

“You can’t exist in the world without a bank account,” he said. “You effectively become a non-person.”

What could happen next?

Banks face a Treasury clampdown in the wake of the row over Mr Farage’s account.

Lenders will be forced to give customers three months’ notice of account closures and to provide a full explanation of the reasons under reforms expected to be unveiled soon, Sky News understands.

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Resident doctors in England consider whether new offer is enough to call off five-day strike in run-up to Christmas

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Resident doctors in England consider whether new offer is enough to call off five-day strike in run-up to Christmas

Doctors in England planning to go on strike in the run-up to Christmas are considering a new offer from the government to end the long-running dispute.

Resident doctors, formerly junior doctors, will walk out from 7am on 17 December until 7am on 22 December.

Health Secretary Wes Streeting has appealed to doctors to accept the government’s latest package.

The British Medical Association (BMA) said it will consult members by surveying them online on whether or not the deal from the government is enough to call off next week’s walkout.

The poll will close on Monday – just two days before the five-day strike is set to start.

The number of people in hospital with flu in England is at a record level for this time of year. File pic: PA
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The number of people in hospital with flu in England is at a record level for this time of year. File pic: PA

The union said the new offer includes new legislation to ensure UK medical graduates are prioritised for speciality training roles.

It also includes an increase in the number of speciality training posts over the next three years – from 1,000 to 4,000 – with more to start in 2026.

Funding for mandatory Royal College examination and membership fees for resident doctors is also part of the deal.

It does not address resident doctors’ demand for a 26% salary rise over the next few years to make up for the erosion in their pay in real terms since 2008 – this is on top of a 28.9% increase they have had over the last three years.

Mr Streeting warned a resident doctors’ strike over Christmas would have a “much different degree of risk” than previous walkouts.

It coincides with pressures facing the NHS, with health chiefs raising concerns over a “tidal wave” of illness and a “very nasty strain of flu”.

A new strain of the flu virus is thought to be much more infectious than previous strains and has already led to a record number of patients needing urgent hospital care.

The union’s mandate to strike is set to expire shortly, but Mr Streeting has offered to extend it to allow the medics to take action later in January if they reject his offer.

He called the union’s decision not to take it up “inexplicable”.

Last week, NHS England chief executive Sir Jim Mackey branded the decision by doctors to strike as “something that feels cruel” and which is “calculated to cause mayhem at a time when the service is really pulling all the stops out to try and avoid that and keep people safe”.

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BMA resident doctors committee chair Dr Jack Fletcher said the latest government offer “is the result of thousands of resident doctors showing that they are prepared to stand up for their profession and its future”.

“It should not have taken strike action, but make no mistake: it was strike action that got us this far,” he said.

“We have forced the government to recognise the scale of the problems and to respond with measures on training numbers and prioritisation.

“However, this offer does not increase the overall number of doctors working in England and does nothing to restore pay for doctors, which remains well within the government’s power to do.”

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Poland resubmits vetoed crypto bill with ‘not even a comma’ changed

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Poland resubmits vetoed crypto bill with ‘not even a comma’ changed

Polish lawmakers have doubled down on crypto regulation rejected by President Karol Nawrocki, deepening tensions between the president and Prime Minister Donald Tusk.

Polska2050, part of the ruling coalition in the Sejm — Poland’s lower house of parliament — reintroduced the extensive crypto bill on Tuesday, just days after Nawrocki vetoed an identical bill.

The bill’s backers, including Adam Gomoła — a member of Poland2050 — called Bill 2050 an “improved” successor to the vetoed Bill 1424, but government spokesman Adam Szłapka reportedly declared that “not even a comma” had been changed.

The division over Poland’s crypto bill comes amid the rollout of the European Union’s Markets in Crypto-Assets Regulation (MiCA) across member states ahead of a July 2026 compliance deadline for EU crypto businesses.

Critics say Bill 2050 is “exactly same bill”

The new version of Poland’s draft crypto bill provides an 84-page-long document that essentially replicates the original Bill 1424, aiming to designate the Polish Financial Supervision Authority as the country’s primary crypto asset market regulator.

Crypto advocates like Polish politician Tomasz Mentzen previously criticized Bill 1424 as “118 pages of overregulation,” particularly in comparison to shorter versions in other EU member states like Hungary or Romania.

“The government has once again adopted exactly the same bill on cryptoassets,” Mentzen wrote in an X post on Tuesday.

Source: Tomasz Mentzen

He also mocked Tusk’s claim that the president’s earlier veto was tied to the alleged involvement of the “Russian mafia,” saying: “The bill is perfect, and anyone who thinks otherwise is funded by Putin.”

Government spokesman Szłapka reportedly claimed that Nawrocki will likely not veto the proposed bill this time, following a classified security briefing in parliament last week and “now has full knowledge” of the implications on national security.

The issue with MiCA: Local versus centralized EU oversight

Poland’s debate over its crypto bill sets an important precedent for implementing the EU-wide MiCA regulation, as the proposed legislation would place responsibility for market supervision on the local financial regulator.

The issue is particularly significant amid calls from some member states for more centralized MiCA supervision under the Paris-based European Securities and Markets Authority (ESMA).