Bank of England Governor Andrew Bailey wants everyone to know that Nigel Farage does not set monetary policy. Bailey confirmed on July 8 that no policy changes have resulted from interventions by the Reform UK leader, including a September 2025 meeting at the Bank’s headquarters that has since become a political lightning rod.
The denial comes amid allegations from Labour MP Phil Brickell, who filed a complaint on July 2 regarding Farage’s alleged unregistered lobbying activities. The accusation carries extra weight because of Farage’s connection to Christopher Harborne, a financial backer with interests in stablecoin operations, raising questions about whether the meeting was routine political engagement or something more transactional.
What actually happened at the meeting
In September 2025, Farage and Reform UK deputy leader Richard Tice sat down with Bailey at the Bank of England. The agenda covered the Bank’s digital pound initiatives, broader monetary policy, and quantitative easing. The Bank has characterized it as a routine political engagement exercise, the kind of meeting that central bank governors regularly hold with political figures.
Farage didn’t keep his opinions to himself afterward. At an October 2025 event, he publicly criticized the Bank’s plans for what’s been nicknamed “Britcoin,” expressing concern about its implications for financial privacy and what he sees as authoritarian overreach in digital payments.
