Bank of England governor says he would have delayed Farage meeting if gift were under investigation
8 reported
Bank of England Governor Andrew Bailey stated he would have considered postponing a September 2024 meeting with Reform UK leader Nigel Farage if the central bank had known at the time that a £5 million gift from a crypto billionaire to Farage would later become the subject of a parliamentary inquiry. The donation from Thailand-based investor Christopher Harborne was revealed by the Guardian in April 2026. Bailey said the undisclosed gift would have been a "material fact" in deciding whether to proceed with the meeting. He did not regret the meeting itself, describing it as a "perfectly polite exchange of views." Farage used the meeting to urge the Bank to drop plans for a state-issued rival to a stablecoin issued by Tether and to abandon a cap on individual stablecoin holdings, which the Bank later dropped after a consultation. Bailey said the controversy would not change how the Bank books meetings with political figures, which it does regularly and without "favouritism."
What’s reported
Andrew Bailey said he would have considered delaying a meeting with Nigel Farage if the £5 million gift from Christopher Harborne had been under investigation at the time.
The gift was revealed by the Guardian in April 2026, months after the September 2024 meeting.
Bailey stated the gift would have been a "material fact" in the Bank's judgment.
Farage used the meeting to demand the Bank drop plans for a state-issued rival to Tether's stablecoin and to abandon a cap on individual stablecoin holdings.
The Bank dropped the cap on individual holdings after a consultation.
Bailey said he had not discussed the Bank's latest stablecoin rules with Farage.
Farage has been reported to the standards commissioner over whether he lobbied the Bank against parliamentary rules.
Bailey said the Bank would continue to meet political leaders as part of its public authority responsibility.
Key figures
Andrew Bailey, Bank of England governor and head of the Financial Stability Board
Nigel Farage, Reform UK leader
Christopher Harborne, Thailand-based crypto investor
Sources: The Guardian
