Nigel Farage’s Coutts and NatWest problems add term ‘debanking’ to English dictionary

‘Debanking’ has been added to the English dictionary following Nigel Farage’s high-profile row with Coutts and NatWest.

The term has been widely used since the former UKIP leader lost his account at Coutts, whose clients include members of the royal family, after an internal report found his views were not in line with the bank’s values ​​and that he was ‘transphobic’.

The bitter feud led to the resignation of NatWest boss Dame Alison Rose after she wrongly told a journalist that Farage’s views had not been a factor in the loss of his account.

The scandal sparked outrage over what was described as the politicized ‘debanking’ of individuals based on their beliefs.

One of the most notable words of 2023, the new entry in the Collins English Dictionary will read: ‘Debanking, noun, the act of depriving someone of banking facilities.’

The bitter feud led to the resignation of NatWest boss Dame Alison Rose (pictured) after she falsely told a journalist that Farage’s views had not been a factor in the loss of his account

Mr Farage was sacked from Coutts in June after an internal report found his views were not in line with the bank’s values ​​and found him to be ‘transphobic’.

It explains why the term gained currency in 2023: ‘Another type of financial problem, debanking, is also on the list, after populist politician Nigel Farage claimed his bank, Coutts, had tried to close his account because of his political views .

‘The issue was put in the spotlight and many others subsequently came forward to complain that they had been removed from the bench without explanation.’

Defense Secretary Grant Shapps and Reform UK leader Richard Twice were among those who came forward to complain their accounts had been closed for political reasons.

Farage was also furious when it emerged that serial killer Rose West was allowed to keep her Co-operative bank account after his was closed due to his political views.

The GB News presenter told MailOnline when he found out in August: ‘It’s quite special. If I’m the bad guy and Rose West is the good girl, then something is very wrong here.”

Mr Farage added: ‘It just shows what nonsense this whole woke corporatism is that is running through banks and companies. It is blatantly and openly political.”

Earlier this month, NatWest bosses faced calls from Mr Farage to suspend staff who joked about wanting to throw ‘a milkshake’ at him.

The new entry in the Collins English Dictionary reads: ‘Debanking, noun, the act of depriving someone of banking facilities.’

A bombshell document revealed how staff privately boasted that they may have ‘driven him out of the country’.

Another message said they would “pay” to be the person to tell him he wasn’t welcome to use the company.

Last week, Farage was furious after a ‘whitewash’ report ruled NatWest had not broken the law when it closed its account with established bank Coutts in June.

An independent investigation into NatWest Group’s actions found that while there were ‘serious failings’ in the way he was ‘debanked’, it was primarily a commercial decision.

NatWest again apologized to Mr Farage after the investigation by law firm Travers Smith found shortcomings, but said NatWest’s decision was lawful and largely commercial.

In a statement, Mr Farage said: ‘Travers Smith has taken a very soft-spoken approach to this complex issue. The law firm states that my political views ‘do not align with those of the bank’ were not in themselves a political decision. This is laughable.’

In addition to the term ‘debanking’, other words related to political issues have also been added to the English dictionary.

‘Greedation’, the price hike for higher profits under the guise of inflation, has been added – as has the acronym ‘Ulez’ which refers to Sadiq Khan’s hated ultra-low emission zone in London.

‘Bazball’, a style of attacking Test match cricket introduced by former New Zealand cricketer and current England coach Brendon’ Baz McCullum, has also been added.

These are some of the other words added to the 2023 HarperCollins dictionary

Other words introduced include “de-influence” when influencers use social media “to warn followers to avoid certain commercial products, lifestyle choices, etc.” and “nepo baby” to describe sons and daughters of celebrities whose careers probably had a career. an advantage thanks to their parents’ fame.

But the most striking word of 2023 has been called ‘AI’ by Collins.

Alex Beecroft, Collins’ director, told the Daily Telegraph: ‘AI has received a lot of attention this year in the way it has developed and quickly become as ubiquitous and embedded in our lives as email, streaming or anything different that was once futuristic. , now everyday technology.

‘The cost of living crisis is also inescapable, with words like greed soaring, putting companies in the spotlight. Other words in the list have also sparked interesting conversations, especially about people’s health.’