Reform launches attack on the Bank of England

Reform launches attack on the Bank of England

Richard Tice vows to stop Threadneedle Street paying billions of pounds to commercial lenders

Reform UK clashes with Bank of England over interest payments to lenders

The Bank of England has dismissed calls from Reform UK to end interest payments to commercial banks on reserves, despite mounting political pressure over what critics claim is a vast and unnecessary drain on the public purse. In a letter to the Bank’s governor, Andrew Bailey, Reform UK’s deputy leader Richard Tice (Pictured) accused Threadneedle Street of “enriching City institutions” to the tune of tens of billions of pounds, saying the current…