What is the Greensill lobbying scandal and who is involved?
Set up by the Australian financier Lex Greensill, the firm specialises in supply-chain finance, which settles business bills immediately for a fee, assisting with the issue of late payments. Greensill began working with the NHS as part of Citibank in 2012, but then set up his own firm. This collapsed in March.
How is David Cameron involved?
Cameron was prime minister when Greensill started to seek government work, although the Australian was reportedly first brought in by Jeremy Heywood, who was cabinet secretary at the time. But in 2016, after leaving office, Cameron became an adviser to Greensill Capital. He was given share options reportedly worth tens of millions of pounds.
What did Cameron do?
Last year he sent “multiple” texts to Rishi Sunak, the chancellor, and “informally” phoned two other Treasury ministers, asking for Greensill Capital to get the largest possible allocation of government-backed loans under the Covid corporate financing facility, or CCFF. He also lobbied a No 10 aide, and in 2019 took Greensill to a “private drink” with Matt Hancock, the health secretary.
What was the government response?
Text replies from Sunak in 2019, released after a freedom of information request, show that in April last year the chancellor told Cameron he had “pushed the team” in the Treasury to see if he could arrange full access to CCFF loans. Other released documents show Treasury officials had a series of meetings with Greensill Capital but eventually refused it access to the CCFF. The company was later accredited to the coronavirus large business interruption loan scheme (CLBILS), handing it the ability to offer government-backed loans of up to £50m.
https://www.theguardian.com/business/2021/apr/14/what-is-greensill-lobbying-scandal-who-involved
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