'De-banking' was on ministers' radar before the row that led to the downfall of Dame Alison Rose.
Remember, the NatWest Group is still 39% owned by the Treasury - that sort of pressure from the government would be hard to ignore.At 0145, the bank's chairman Sir Howard Davies announced that Dame Alison had agreed to step down "by mutual consent".No 10 has made it clear that the prime minister believed business leaders need to act "responsibly". The inference is that by discussing Nigel Farage's relationship with her bank, Dame Alison had fallen short.
The Treasury has been worried since the beginning of the year, when the issue was raised by free speech campaigners. It launched a consultation on firming up protections.They were amplified when he published a dossier, which showed his political views were discussed when Coutts decided to close his account.Several Conservative MPs have voiced their concerns in Parliament.Government minister Chris Philp told the Today programme: "It's a question of free speech and pollical freedom.
Business secretary Kemi Badenoch also expressed concerns this morning, tweeting: "There are many less high profile individuals whose accounts appear to been closed for this reason. I hope banks will look again." Ministers want to ensure legally expressed views cannot be a reason for someone to lose their access to banking facilities.Banks will have to give three months' notice - and a proper explanation for why their account is being closed.Bank bosses are meeting City minister Andrew Griffith on Wednesday to discuss the new measures.
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