The Libertarian Party UK firmly believes in upholding individual rights and fostering a fair and equitable financial system. As part of our commitment to these principles, we propose to enact legislation that makes debanking illegal within the United Kingdom. This policy aims to create a reciprocal relationship between banks and taxpayers, emphasising the fundamental right of all citizens to access a bank account.

Banks operating in the UK have historically benefited from various forms of public support, including taxpayer-funded bailouts, access to asset purchase facility funds, state guarantees on loans, and the availability of the discount window facility. We contend that in exchange for these privileges, banks should be obliged to provide a vital service to the taxpayers who support them.

The right to a bank account is a fundamental necessity in today's society, as it enables individuals to participate in the modern economy, receive salaries, make payments, and engage in commerce. By making debanking illegal, we ensure that banks do not arbitrarily deny citizens and businesses of this essential service, thereby upholding their basic financial rights.

In the event that a bank chooses to deprive a taxpayer of access to a bank account without just cause, they will face legal consequences. Such measures will hold banks accountable for their actions and reinforce their responsibility to serve the interests of the public. Just as banks rely on taxpayer capital to thrive, they must reciprocate by safeguarding the financial rights and freedoms of their customers.

If a bank debanks a customer, then the Bank of England will debank them. Access to taxpayer-funded facilities will be denied.

The Libertarian Party UK advocates for this policy to promote fairness, financial inclusion, and accountability within the UK banking sector. We believe that by enshrining the right to a bank account in law, we can create a more just and equitable financial system where banks and taxpayers uphold their mutual responsibilities.

We invite constructive dialogue and collaboration with all stakeholders to further develop and implement this proposal for the betterment of the United Kingdom's financial landscape.