A NEW bank was set up in the centre of Oxford yesterday by the Mad Hatter himself.

Alasdair de Voil, pictured, spent April Fool’s Day convincing shoppers that money grows on trees as part of his campaign to stand for the Monster Raving Loony Party.

But not all is as it seems, with the money being flyers for Mr de Voil’s Bank of Quantitative Easing. He said: “People who disagree with quantitative easing say it increases inflation and puts a lot of money into the wrong places.

“Most people are aware of the issue, so I wanted to use it as my key prank.”

Mr de Voil, who runs the Mad Hatter’s tea parties and tours, said: “I like the idea of standing for the Monster Raving Loony Party because it’s a protest vote.

The 40-year-old is planning to stand in his ward of Carfax in the city council elections. He ran last year in the Oxford University Parks ward and received six per cent of the vote.