Tuesday, August 3, 2021
HomeLive StreamAnswers demanded over claims Cameron lobbied for administration-hit Greensill

Answers demanded over claims Cameron lobbied for administration-hit Greensill

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Labour wants an investigation into whether former prime minister David Cameron lobbied for a specialist bank that has since gone bust to handle extra Government-backed Covid loans.

Greensill Capital, a group that lends money to businesses so they can pay their suppliers and counted Mr Cameron among its advisers, filed for administration last week.

According to the Financial Times Mr Cameron, before it collapsed, personally intervened to try to increase Greensill’s access to Government-backed Covid-19 emergency loan schemes.

The newspaper reported that Greensill wanted to have its cap lifted so it could lend up to £200 million as part of the Coronavirus Large Business Interruption Loan Scheme (CLBILS), increasing its limit of £50 million at the time.

The Treasury said it had turned down the request to change the rules around access to the Bank of England’s Covid Corporate Financing Facility (CCFF).

Shadow chancellor Anneliese Dodds said a probe should be undertaken to “leave no stone unturned” in getting to the bottom of why “it appears Greensill was given so much access to the Treasury”.

“These revelations raise extremely serious questions about the Chancellor’s priorities in the middle of a pandemic,” said the senior Labour MP.

“The Government must leave no stone unturned with a full and thorough investigation into this.

“Taxpayers and businesses deserve answers about why it appears Greensill was given so much access to the Treasury at a time when the Chancellor was refusing to engage with groups representing the millions of people he excluded from wage support.

“The Chancellor must urgently set the record straight.”

Downing Street declined to say whether Mr Cameron lobbied his former university colleague Prime Minister Boris Johnson or a special adviser in No 10.

The Treasury said it had turned down Greensill’s request to increase its lending power for Government-backed Covid loans / PA Wire

A No 10 spokesman said: “Senior officials and ministers routinely meet with a range of private sector stakeholders.

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