Editorial: Banks should not be allowed to try and police the opinions of customers and in the process curtail free speech

A number of cases have come to light recently of banks and other financial institutions stopping services, seemingly because they disagreed with a customer’s strong political opinions.

Last week, the controversial politician turned TV presenter, Nigel Farage, claimed that his personal and business bank accounts were shut down without explanation. A vicar alleged that the Yorkshire Building Society closed his account, after he complained about its messages on LGBT Pride. Previously, the Free Speech Union, which stands up for people who have been “cancelled” for their views, had its services stopped by the electronic payments giant, PayPal. If these claims are accurate, it is a chilling development and an attack on freedom of conscience.

In a particularly worrying statement, the Yorkshire BS claimed it only terminates accounts if a customer “is rude, abusive, violent or discriminates in any way”.

Staff should obviously never have to tolerate rudeness, abuse or violence, but the definition of “discrimination” is so wide that it could cover almost anything to which the institution objects. In a column in the Daily Telegraph, the journalist Tim Stanley, wrote, tongue firmly in cheek, that this proviso opened up a “world of exciting possibilities”. He also observed that a bank could use such a policy to blackball an organisation like the Orange Order.

These cases highlight a worrying trend for large corporations to try to associate themselves with fashionable political beliefs and even try to police the opinions of customers and the public.

When the services they provide are important, or even indispensable, this is akin to outlawing views they don’t like.

Yesterday, the chancellor announced that the government will act quickly to prevent free speech being curtailed in this way. Let’s hope its actions are effective.