Luke Charters MP@lukejcr
Before I was an MP, I worked on the current series of polymer banknotes at the Bank of England.
So I know how decisions about our currency are made, and why they matter.
Nigel Farage clearly doesn’t.
What he conveniently ignores is that central banks regularly issue new banknote series. It’s how they stay ahead of counterfeiters and keep our currency secure.
It’s technical. It’s essential. And it’s completely routine.
So why is he manufacturing outrage?
Because Farage and Reform UK have spent months attacking the Bank of England itself.
They’ve demanded the Bank halt quantitative tightening. 💷
They’ve pushed to stop interest being paid on central bank reserves, which would completely destroy monetary policy transmission. ⚠️
And Farage has even suggested replacing the Governor with someone aligned to his agenda.
Let’s be clear:
Politicians leaning on central banks is how you spook markets and undermine confidence in the economy.
Bank of England independence, brought in by the last Labour government, exists for a reason.
To keep markets and household finances stable.
I back the Bank to keep our currency secure, not to be dragged into political point-scoring.
So if Farage spent half as much time understanding how the Bank works as he does attacking it, we’d hear a lot less of this nonsense. ❌
