UK’s Right-Wing Reform Party Floats Overhaul of BOE’s QE Program

Philip Aldrick · Bloomberg ·

1 min read Original article ↗

Pedestrians pass the Bank of England (BOE) in the City of London, UK.

Photographer: Hollie Adams/Bloomberg

Britain’s insurgent right-wing party Reform UK wants to overhaul the Bank of England’s money printing program to save billions of pounds for manifesto pledges.

Nigel Farage, leader of Reform who is standing to be MP for Clacton, said he would save £35 billion ($45 billion) by scrapping interest on central bank reserves, created as part of the BOE’s £895 billion quantitative easing operation to prop up the economy between 2009 and 2021.