\t\t\t\t\t\tEmail\t\t\t\t\t\tShare on Email\n\t\t\t\t<\/li>\n<\/ul>\n
![\"Business](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/02\/01KFBVT3ZTAGYFPWDEQ909NB90.jpeg\")
\t\tRobert Jenrick will take aim at the Bank of England today. (Image: PA).\t<\/p>\n
Robert Jenrick will take a jab at the Bank of England in his first major outing as Reform\u2019s spokesman on Treasury matters. <\/a><\/p>\n The Newark MP is expected to commit to the independence of the Bank of England but pledge to \u201cstrip the Bank of distractions which have been loaded onto it\u201d. <\/p>\n \u201cWe will demand that the Bank must be a more open institution, and the private sector better represented on the Monetary Policy Committee,\u201d the party\u2019s spokesman said. <\/p>\n Farage\u2019s top team have vocally pushed for mammoth reforms to the central bank in the last year with the party leader lashing out at \u201cdinosaur bureaucrats\u201d at the Bank over views on stablecoins. <\/p>\n Jenrick will accuse the Bank of \u201ctaking its eye off the ball on inflation\u201d and take a swing at \u201cexcessive quantitative easing\u201d.<\/p>\n Reform has criticised the quantitative easing (QE) programme<\/a>, which refers to the Bank creating billions of pounds to buy UK bonds from commercial lenders in a bid to help keep interest rates low and support the economy. <\/p>\n After rounds of QE following the 2008 financial crisis and then after the eurozone debt crisis, the Brexit referendum and pandemic, the Bank has kicked off a quantitative tightening programme, where it sells the bonds for less than it paid for them.<\/p>\n To pay for the initial bonds, the\u00a0Bank of England<\/a>\u00a0created new central bank reserves for the commercial banks, on which it paid interest at its official rate. Reform have criticised the profits generated by the big banks after this measure following soaring interest rates.<\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tRobert Jenrick clinches Treasury brief as Reform reveals \u2018shadow cabinet\u2019<\/a><\/p>\n Farage has said a cash raid on these profits<\/a> would not qualify as a tax and instead mean the banks were \u201cnot going to get free money anymore\u201d.<\/p>\n Jenrick to oppose \u2018wrecking ball\u2019 Reeves<\/p>\n In his City debut as Reform\u2019s \u2018shadow chancellor\u2019 Jenrick is also expected to back the Office for Budget Responsibility (OBR<\/a>), stating the party is \u201chappy to have [it\u2019s] homework marked\u201d.<\/p>\n \u201cThe OBR is far from perfect. But the impetus for its creation was a desire to instill fiscal discipline, and that is something we wholeheartedly endorse,\u201d he will add.<\/p>\n \u201cRather than abolish it, we will reform it. We will break up this cosy consensus and ensure it has diversity of opinion.\u201d<\/p>\n Jenrick will say Reform will \u201crun competitions for superforecasters\u201d to join the OBR and pay \u201ccompetitive salaries to those who most accurately model the impact of Treasury<\/a> decisions.\u201d<\/p>\n Reform announced its shadow cabinet during a Westminster press conference on Tuesday. <\/p>\n Jenrick clinched the Treasury brief after speculation it was an area party veterans Richard Tice and Zia Yusuf had been interested in.<\/p>\n After being unveiled as the party \u2018shadow chancellor,\u2019 Jenrick thanked\u00a0Farage<\/a>\u00a0for allowing him to \u201coppose the wrecking ball that is Rachel Reeves\u201d and pledged to put together the most \u201ccomprehensive plan\u201d to fix the UK economy.<\/p>\n \t\t\t\t\tRead more<\/p>\n