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2026-02-18 08:29:19
[Reform Party Plans Major Reforms to the Bank of England and Budget Oversight Agency] Robert Jenrick, the newly appointed finance spokesman for the UK's Reform Party, will announce on Wednesday that the party plans comprehensive reforms to the Bank of England and the government's budget oversight agency if it wins the next general election. According to a preview of Jenrick's speech in the City of London on Wednesday, the Reform Party will "strip the Bank of England of its auxiliary functions in areas such as net-zero emissions" so that the central bank can focus on its core mission of reducing inflation. At the same time, the Office for Budget Responsibility will be required to incorporate more diverse opinions when forecasting the UK economy. As part of a package aimed at reassuring investors and businesses, Jenrick will confirm that the Bank of England and the Office for Budget Responsibility will remain independent under a Reform Party government, despite the adjustments. Previously, Reform Party leader Nigel Farage had questioned the independence of these two institutions.
