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Farage and Tice Urge Bank of England to Halt Bond Sales

9/27/2025

26 3 Full Breakdown

Center

Farage and Tice Challenge Bank

Nigel Farage and Richard Tice met Bank of England Governor Andrew Bailey to press halting bond sales and interest payments on excess reserves, arguing it burdens taxpayers.
They criticized quantitative tightening, urged a parliamentary debate, claiming it imposes taxpayer losses.
The Bank's forecast peaks at 4% in September, above the 2% target, with a return to target by spring 2027.

Right

NEF Critiques Bank

New Economic Foundation (NEF) says Bank of England policies cost UK taxpayers nearly £80 billion since 2022, about £20 billion annually through 2033.
The cost stems from quantitative easing, raising reserve interest payments above earnings from government bonds.
NEF urges revising the indemnity with the Bank to ease fiscal pressure, as in the US and eurozone, per Breaking the Bank.

History

Historical Context

The Bank of England launched its quantitative easing (QE) program in 2009 to stimulate the economy, peaking at £895 billion in 2020. By 2022, the program had cost UK taxpayers an estimated £80 billion. Recent discussions between Nigel Farage, Richard Tice, and Governor Andrew Bailey underscore ongoing concerns about the fiscal impact of interest payments on reserves, prompting calls for policy revisions.

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Farage and Tice Challenge Bank

Nigel Farage and Richard Tice met Bank of England Governor Andrew Bailey to press halting bond sales and interest payments on excess reserves, arguing it burdens taxpayers.
They criticized quantitative tightening, urged a parliamentary debate, claiming it imposes taxpayer losses.
The Bank's forecast peaks at 4% in September, above the 2% target, with a return to target by spring 2027.

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