WIDER lessons need to be learned from the Nigel Farage de-banking scandal, according to Labour’s Shadow International Trade Secretary Nick Thomas-Symonds.

He told GB News: “Firstly, you’ve got to get the balance right here on what we call the Politically Exposed Persons or the due diligence regime. You’ve got to get the balance right between that and people accessing wider bank basic banking services.

“I’ve seen what the Financial Conduct Authority has said about its concerns about NatWest reviewing this issue and then about the Financial Conduct Authority being involved if necessary, so, of course, it’s important to learn the wider lessons.”

In a discussion during Breakfast with Eamonn Holmes and Ellie Costello, he continued: “With regard to Dame Alison Rose, I think it was a matter for her and for the board of NatWest to make this decision on the basis of the information available to them, but I thought it was remarkable last night to see how quickly the Prime Minister and the Chancellor weighed in on her future.

“If only they’d weighed in as quickly on the futures of, say Gavin Williamson, or Nadhim Zahawi or Dominic Raab, when they were putting their own house in order, I think this government might be in a much better position.

“But of course, we need to look at this particular case. We’ve obviously seen a lot of coverage of it in recent days but we then need to look at it carefully and then look at obviously the wider lessons going forward, certainly.”