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Farage Promises £40 Billion Savings by Ending Bank Interest

1/22/2026

50 9 Full Breakdown

Summary

Story summary

Nigel Farage, leader of Reform UK, announced a plan to eliminate interest payments that banks receive from the Bank of England.
He argues the move will save taxpayers up to £40 billion.
At the World Economic Forum, Farage said, "We are going to do it."
He also indicated potential Bank of England leadership changes if Reform UK wins the next election.

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Story summary

Nigel Farage, leader of Reform UK, announced a plan to eliminate interest payments that banks receive from the Bank of England.
He argues the move will save taxpayers up to £40 billion.
At the World Economic Forum, Farage said, "We are going to do it."
He also indicated potential Bank of England leadership changes if Reform UK wins the next election.