No one should be debanked – made effectively bankrupt – because of their political views, but when it’s done to start-ups vital to defence, it endangers us all, says James Graham

Few knew what debanking was in the summer of 2023 when news emerged that Nigel Farage’s account had been shut down.

His bank initially claimed that he did not have enough cash to justify his account. He pushed back, filing subject access requests forcing the bank’s private conversations into the public realm.

What came to light was that his bank had decided that Farage’s “publicly-stated views … were at odds with [the bank’s] position as an inclusive organisation.”

Should a bank, which is ultimately underwritten by the taxpayer (via limited liability), be able to shut down the accounts of individuals or businesses with whom they disagree?

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I don’t think so. That is why today, with the backing of Nigel Farage and others, I am pleased to have launched the Prosperity Institute’s campaign to end debanking for good.

If an individual or business has a bank account, the money in that account legally belongs to them. When a bank closes their account, their money, their property, can end up trapped within an institution that they cannot access. It........

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