One of the most pressing issues in contemporary Britain, which has been marred by years of Tory rule and divided by social media, is our struggle to identify genuine victims. However, today our attention is rightly focused on those who are truly suffering, following the passing of the government’s immoral illegal migration bill. Nigel Farage’s recent battle with Coutts, the esteemed people’s bank, has captured national headlines, marking a significant step forward.
The story itself is rather pitiful, and as Oscar Wilde once aptly remarked, one would need a heart of stone not to find it amusing. Farage has had an account with Coutts for several years, despite not possessing the vast wealth typically associated with its clients. However, Coutts has now decided to close his account, leading to great distress for Farage and the media outlets who adore him (both for his Brexit campaign and his relatable persona, often seen with a cigarette and a pint).
The reasons behind Coutts’ concerns about Farage are numerous and debatable. Some sources claim that Farage’s financial status fell below the required threshold, and he was offered a compensatory account at NatWest, which owns Coutts. Farage, on the other hand, argues that his account was closed for political reasons. He reveals that nine other lenders refused to accept his money as well.
Of course, Farage couldn’t let the matter rest. After submitting a subject access request, he alleges that Coutts closed his account because his views do not align with their values. Minutes from a meeting of Coutts’ wealth reputational risk committee in November state that continuing to bank Farage is incompatible with the bank’s inclusive nature, as his publicly expressed views contradict their position. Farage rejects this, denouncing the claims that he is perceived as “racist and xenophobic” as an “appalling slur”.
This is a glaring example of true injustice. It’s no wonder that Andrew Griffith, economic secretary to the Treasury, has intervened by reporting the treatment of “politically exposed” bank customers like Farage to the Financial Conduct Authority. After all, what is the purpose of a government if it fails to protect society’s most vulnerable?
It would be unfair to mock the misfortune of someone who delights in associating with the super-rich, such as Arron Banks and Donald Trump, as they face exclusion from a bank catering exclusively to the elite. Furthermore, it would be misguided to laugh at the downfall of a former City trader, whose family is deeply entrenched in stockbroking, due to the supposed decision of a hyper-capitalistic, ultra-private bank to restrict its clientele to those who enter through the front rather than the back entrance.
Similarly, it would be unjust to remain passive while a man who consistently imposes limitations on other people’s movements and actions is barred from his bank of choice. Have none of us read or watched Magna Carta? It’s clear that the treatment of Farage raises legitimate concerns about prejudice. Although we cannot definitively prove the racism claim, as it is a matter for Farage and others to grapple with, Coutts acknowledges in its internal document that his commentary does not violate hate speech legislation or promote harmful behavior.
Some may point to Farage’s infamous “breaking point” poster during the Brexit campaign, which used a photo of migrants crossing the Croatia-Slovenia border in 2015 to fuel fears of a mass invasion of Dover. However, it is important to distinguish between xenophobia and toxic fear-mongering. While this is a discussion for another time, it is clear that Farage deserves support during this trying period.
The situation is disheartening for all parties involved, with no clear winners. While the law prohibits private entities from discriminating against customers based on sex, race, disability, or gender, there seems to be a lack of protection for right-wing propagandists. Farage has his supporters and his show on GB News, but it must be difficult for him to accept being rejected by a financial institution that prioritizes monetary gain above all else. Conversely, Coutts risks facing public scrutiny for its attempt to cleanse its customer base of unwelcome individuals.
We find ourselves in a world of upheaval and crisis, but as the media campaign demonstrates, we still possess agency. If we rally behind Farage, we have the power to change the course of events.
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