Business

Greensill texts were mistake, says David Cameron

David Cameron admits to buddies that it was a mistake to try to foyer Chancellor Rishi Sunak on behalf of his employer Greensill Capital

David Cameron has admitted to buddies that it was a mistake to try to foyer Chancellor Rishi Sunak on behalf of his employer Greensill Capital. 

The former Prime Minister is beneath scrutiny for making an attempt to realize lender Greensill additional entry to taxpayer-backed Covid loans schemes. 

Greensill went bust final month, and Cameron has refused to talk publicly about his function on the company since. But a buddy of the ex-leader instructed the Financial Times: ‘I believe he would agree it could possibly be argued {that a} formal letter would have been extra applicable.’ 

Claim: It has additionally emerged Lex Greensill (pictured) exaggerated his connections with David Cameron in an try to win over the Australian prime minister

In an indication that Cameron was starting to battle again, his buddies added that he had solely met Lex Greensill, the agency’s Australian founder, twice whereas he was in No 10. The Greensill scandal has additionally put Sunak beneath the highlight, after he replied to Cameron’s texts saying that he had ‘pushed the workforce’ to discover a solution to give Greensill elevated entry to the Covid mortgage schemes. 

It additionally emerged Lex Greensill exaggerated his connections with Cameron in an try to win over the Australian prime minister. 

As the shamed financier tried to whip up extra business for his agency Greensill Capital in late 2019, he lobbied Scott Morrison to arrange a lending scheme for presidency employees. In a WhatsApp message seen by the FT, supposed for Morrison however by accident despatched to the fallacious quantity, Greensill stated: ‘David Cameron, who’s on our board and a cloth shareholder, speaks most extremely of you.’ 

In reality, his description of Cameron was not appropriate. The former PM was an adviser reasonably than a board member and is known to have stock choices which might have given him a stake of round 1 per cent in Greensill Capital. During Cameron’s time as prime minister, he signed off on a multi-billion-pound lending scheme for NHS-linked pharmacies proposed by Greensill – regardless of an official report which rejected the concept. 

In his messages to Morrison, Greensill was pitching an concept much like a separate scheme used for NHS employees within the UK, the place the lender would pay cash-strapped nurses their wages each day reasonably than month-to-month and would obtain a price from their employer for providing the service. 

He continued to push the concept on the World Economic Forum’s meeting in Davos the following January. But briefing notes from the meeting, put collectively by Australian officers, confirmed their suspicion of Greensill’s concepts as they described his versatile pay scheme as ‘economically much like payday lending’.

Advertisement

Back to top button