Nigel Farage urges the Bank of England to stop its quantitative tightening plan, claiming that the plan has cost taxpayers billions of dollars and raised the cost of government debt. In a meeting with Bank of England Governor Andrew Bailey, Farage and Richard Tice, Vice Chairman of Reform UK, also called for a relaxation of cryptocurrency regulations and accused the Bank of England of stifling innovation. The party proposed making the UK a cryptocurrency hub through tax incentives and pilot exemptions. Bailey had previously defended the overall economic impact of the quantitative tightening plan, while the Bank of England recently reduced the scale of bond issuance from £100 billion per year to £70 billion.