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Bank bosses have made a commitment to free speech, according to the government, in the wake of the Nigel Farage de-banking row that claimed the scalp of NatWest chief executive Dame Alison Rose.

On Wednesday afternoon the Information Commissioner’s Office announced it has written to banks to remind them of their “responsibility to the public”.

“Banks should not be holding inaccurate information, they should not be using information in a way that is unduly unexpected, and they should not be holding any more information than is necessary,” the Information Commissioner John Edwards said.

Dame Alison’s four-year tenure as chief executive ended in ignominy last night following her admission that she had discussed Mr Farage’s bank details with a BBC journalist, suggesting too that his account at the bank’s Coutts division had been closed only for commercial, rather than any political, reasons.

“Any suggestion that this trust has been betrayed will be concerning for a bank’s customers, and for regulators like myself,” Mr Edwards said.

Number 10 said Dame Alison had “done the right thing” by resigning and confirmed she was no longer a member of the prime minister’s business council. She has also left two roles she had with the department for energy after the secretary of state asked her to step down from both positions.

Treasury minister Andrew Griffith met 19 bank bosses for a summit on Wednesday to discuss concerns other figures, not just Mr Farage, were being denied access to banking due to their politics or perceived beliefs.

Mr Griffith said afterwards: “It’s not the job of banks to tell us what to think, or what political party we should support.

“The government’s been extremely clear on this, in a democracy that relies upon freedom of expression… that is not a legitimate thing for a bank to remove someone’s access to a bank account.”

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A readout of the meeting’s conclusions suggested the industry had agreed to work with government and regulators on the implementation of new rules aimed at strengthening protections on account terminations or access to accounts.

“Attendees from the sector acknowledged that recent events had impacted upon public trust for the whole sector and expressed their clear commitment to government policy on account closure and to act quickly to restore confidence,” the document said.

Mr Farage told Sky News “the whole board needs to go” at NatWest following the resignation of Dame Alison.

The former Brexit campaigner said Sir Howard Davies, chairman of the NatWest Group, had continued to endorse Dame Alison even after it emerged she was the person who had leaked to the BBC.

Sky’s City editor Mark Kleinman suggested it was unlikely Sir Howard would follow her out of the bank despite intense pressure on his own position, saying it could even be prolonged beyond his planned departure next year given the search for Dame Alison’s successor and the need for stability at the top of the bank.

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‘Not necessary’ for entire NatWest board to go

“The first rule of banking is you have to obey client confidentiality. So they have made a complete and utter mess of this,” Mr Farage said, adding he had not decided whether he will seek compensation and the row over his account closure has “absorbed my life for many months”.

He said a subject access request from the NatWest Group revealed his account was “commercially viable” and its closure was a “political decision”.

The former UKIP leader also said he hadn’t been able to open another bank account and claimed he has been turned down by 10 banks.

Mr Farage also claimed he has been “approached by literally thousands of people all over this country that have been unfairly closed down by NatWest”.

NatWest’s shares were down by 4% following the news of Dame Alison’s resignation and were leading the fallers on the FTSE 100.

Alison Rose
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Dame Alison had held her position as NatWest Group chief executive for four years

Mr Griffith earlier tweeted it is “right that the NatWest CEO has resigned”.

He added: “This would never have happened if NatWest had not taken it upon itself to withdraw a bank account due to someone’s lawful political views. That was and is always unacceptable.”

Read more:
Key points from Coutts’ dossier on Farage
The conversation that cost NatWest boss her job

NatWest chairman says resignation is a ‘sad moment’

Sir Howard said earlier the board and Dame Alison agreed by “mutual consent” that she would step down from her role.

He said it was a “sad moment” and that Dame Alison has “dedicated all her working life so far to NatWest”.

In a statement, Dame Alison said: “I remain immensely proud of the progress the bank has made in supporting people, families and business across the UK, and building the foundations for sustainable growth.

“My NatWest colleagues are central to that success, and so I would like to personally thank them for all that they have done.”

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

Their concerns were echoed by Mr Farage, who accused the management of Coutts bank – which is owned by NatWest – of a “serious breach” and called Dame Alison’s position “totally untenable”.

The story first came to light when the BBC inaccurately reported Mr Farage’s account was closed as he did not meet Coutts’s financial thresholds.

Documents obtained by Mr Farage subsequently showed his political beliefs and connections formed part of the rationale.

Mr Farage told Sky News he has written to Peter Flavell, head of NatWest’s Coutts unit, “three times” since his account was closed and had not even had the “courtesy of an acknowledgement”.

Dame Alison had said she believed it was public knowledge Mr Farage was a customer of private bank Coutts and had been offered a NatWest account, and so confirmed these details to BBC business editor Simon Jack.

She later called her actions a “serious error of judgement” but reiterated the bank saw the account closure as a commercial decision and she was not part of the decision-making process.

On Monday, the BBC apologised for the report, following earlier apologies from both Coutts and Dame Alison.

Paul Thwaite, the current chief executive of the company’s commercial and institutional business, was announced as an interim chief executive, for an initial period of 12 months, pending regulatory approval.

The board said a process to appoint a permanent successor will take place in due course.

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Grant Shapps ‘angry inside’ over infected blood scandal ahead of inquiry report

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Grant Shapps 'angry inside' over infected blood scandal ahead of inquiry report

The defence secretary has said he is “angry inside” over the infected blood scandal ahead of a long-waited report into the decades-long injustice.

Grant Shapps told Sky News he agreed it had been one of the most “shameful failures” of government and said he was dismayed by the “lack of anybody taking responsibility”.

The findings of a public inquiry into the scandal, chaired by Sir Brian Langstaff, are due to be published on Monday.

From 1970 to the 1990s, tens of thousands of people were infected with contaminated blood through blood products or blood transfusions given via the NHS. People were infected with hepatitis or HIV – in some cases with both.

An estimated 3,000 people died as a result.

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Mr Shapps told Sunday Morning with Trevor Phillips that the scandal was a “massive injustice which needs to be put right” and said the government would act on the report.

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Thousands of people died after being given infected blood

He said that while he was yet to see the report, he hoped it would finally allow families’ pain and loss to be acknowledged and for the government to properly respond.

Mr Shapps said he had spoken to relatives of several victims, including a couple who had lost their son, and said their stories made feel him “angry inside”.

He added: “It just made me angry to know they had lost their son without anyone ever taking responsibility, so I think this is why this report tomorrow is very important.”

Successive governments have been blamed for failing to take responsibility and the current government has been accused of trying to delay compensation to victims after an inquiry was first set up by Theresa May in 2017.

It is estimated that the compensation bill could now exceed £10m.

The defence secretary admitted the process of delivering payouts to victims had gone on for “so long”.

He added: “This is a massive injustice which needs to be put right.

“And I know the government said we will. The report tomorrow, I think, will be the day for that family and others and I know the government will want to respond quickly.”

Asked whether Prime Minister Rishi Sunak would apologise to the victims, Mr Shapps said: “I don’t want to mislead because I don’t have special insight into that.”

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Shadow health secretary Wes Streeting also told Trevor Phillips that he expected “successive governments” to be criticised in the report by Sir Brian.

“Everyone has got their responsibility to bear in this appalling scandal and we have got a shared responsibility to put it right,” he said.

“The moment to act can’t come soon enough.”

Sir Brian is due to deliver his final report just after midday on Monday.

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Venezuela bans crypto mining to protect power grid

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Venezuela bans crypto mining to protect power grid

This move follows a recent crackdown that involved confiscating 2,000 cryptocurrency mining devices as part of an anti-corruption initiative.

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Sir Jim Ratcliffe scolds Tories over handling of economy and immigration after Brexit

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Sir Jim Ratcliffe scolds Tories over handling of economy and immigration after Brexit

Billionaire Sir Jim Ratcliffe has told Sky News that Britain is ready for a change of government after scolding the Conservatives over their handling of the economy and immigration after Brexit.

While insisting his petrochemicals conglomerate INEOS is apolitical, Sir Jim backed Brexit and spent last weekend with Labour leader Sir Keir Starmer at Manchester United – the football club he now runs as minority owner.

“I’m sure Keir will do a very good job at running the country – I have no questions about that,” Sir Jim said in an exclusive interview.

“There’s no question that the Conservatives have had a good run,” he added. “I think most of the country probably feels it’s time for a change. And I sort of get that, really.”

Read more: Sir Jim’s mission to succeed at ‘the one challenge the UK has never brought home’

Sir Jim was a prominent backer of leaving the European Union in the 2016 referendum but now has issues with how Brexit was delivered by Tory prime ministers.

“Brexit sort of unfortunately didn’t turn out as people anticipated because… Brexit was largely about immigration,” Sir Jim said.

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“That was the biggest component of that vote. People were getting fed up with the influx of the city of Southampton coming in every year. I think last year it was two times Southampton.

“I mean, no small island like the UK could cope with vast numbers of people coming into the UK.

“I mean, it just overburdens the National Health Service, the traffic service, the police, everybody.

“The country was designed for 55 or 60 million people and we’ve got 70 million people and all the services break down as a consequence.

“That’s what Brexit was all about and nobody’s implemented that. They just keep talking about it. But nothing’s been done, which is why I think we’ll finish up with the change of government.”

Watch Sir Jim Ratcliffe’s full interview on the Trevor Phillips on Sunday morning programme on Sky News from 8.30am

UK needs to get ‘sharper on the business front’

Prime Minister Rishi Sunak has indicated an election is due this year but Monaco-based Sir Jim is unimpressed by the Conservatives’ handling of the economy.

“The UK does need to get a bit sharper on the business front,” he said. “I think the biggest objective for the government is to create growth in the economy.

“There’s two parts of the economy, there’s the services side of the economy and there’s the manufacturing side. And the manufacturing, unfortunately, has been sliding away now for the last 25 years.

“We were very similar in scale to Germany probably 25 years ago.

“But today we’re just a fraction of where Germany is and I think that isn’t healthy for the British economy… particularly when you think the north of England is very manufacturing based, and that talks to things like energy competitiveness, it talks to things like, why do you put an immensely high tax on the North Sea?

“That just disincentivises people from finding hydrocarbons in the North Sea, in energy.

“And what we need is competitive energy. So I mean, in America, in the energy world, in the oil and gas world, they just apply a corporation tax to the oil and gas companies, which is about 30%. And in the UK we’ve got this tax of 75% because we want to kill off the oil and gas companies.

“But if we don’t have competitive energy, we’re not going to have a healthy manufacturing industry. And that just makes no sense to me at all. No.”

‘We’re apolitical’

Asked about INEOS donating to Labour, Sir Jim replied: “We’re apolitical, INEOS.

“We just want a successful manufacturing sector in the UK and we’ve talked to the government about that. It’s pretty clear about our views.”

Sir Jim was keener to talk about the economy and politics than his role at struggling Manchester United, which he bought a 27.7% stake in from the American Glazer family in February – giving him an even higher business profile.

Old Trafford stadium in Manchester. Pic: AP
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Old Trafford stadium in Manchester. Pic: AP

Push for stadium of the North

He is continuing to push for public funds to regenerate Old Trafford and the surrounding areas despite no apparent political support being forthcoming. Sir Keir was hosted at the stadium for a Premier League match last weekend just as heavy rain exposed the fragility of the ageing venue.

“There’s a very good case, in my view, for having a stadium of the North, which would serve the northern part of the country in that arena of football,” Sir Jim said. “If you look at the number of Champions League the North West has won, it’s 10. London has won two.

“And yet everybody from the North has to get down to London to watch a big football match. And there should be one [a large stadium] in the North, in my view.

“But it’s also important for the southern side of Manchester, you know, to regenerate.

“It’s the sort of second capital of the country where the Industrial Revolution began.

“But if you have a regeneration project, you need a nucleus or a regeneration project and having that world-class stadium there, I think would provide the impetus to regenerate that region.”

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