SOME good news on the economy with inflation falling more than expected. There seems to be an expectation in the media that the Government will cook up some sparkly hand-outs well in advance of the general election. Don’t bank on it.

All the indications are that PM Sunak is focussed on getting the economy right after the pandemic and energy crisis. We all want tax cuts but may have to wait a wee bit longer.

Nigel Farage isn’t my cup of tea, but the way Nat West/Coutts Bank has behaved towards him is nothing short of a disgrace. I’m delighted my ministerial colleagues are taking prompt action to rein in the banking sector.

Banks must not decline banking services to law abiding people just because they do not share their ‘values’. If we don’t stop this madness now there will be no limit to the businesses and services that can arbitrarily decide they don’t much like a particular sort of customer and send them packing.

In this dystopia, customers not professing a particular world view would be cowed into submission or face ruination.

It’s reported that the chief executive responsible for NatWest’s behaviour is paid more than £5 million a year. If you’re a junior bank official on a modest salary you can be allowed a mistake or two. If you’re the boss on that sort of money, you cannot. I’m not sure a simple apology cuts it.

To be fair, banks have been encouraged to behave in this heavy-handed way by the UN concept of ‘Politically Exposed Persons’. This notion is apparently to prevent money laundering by those supposedly at risk of bribery and corruption because they are seen as powerful.

The UN believes PEPs need special scrutiny by banks to make sure they aren’t up to no good. Presumably, it’s chiefly worried by less enlightened realms. In this country, over-zealous banks have gone for special scrutiny of the high-profile UK salariat – politicians, senior military folk, judges and civil servants and their families.

In this censorious environment, NatWest/Coutts decided to have a go at Farage on very dubious grounds. The good old BBC, of course, was quick to weigh in.

Both have ended up eating humble pie, as well they should.

DR ANDREW MURRISON
Conservative MP for South West Wiltshire