David Cameron and Lex Greensill to appear before MPs next week
David Cameron and Lex Greensill will appear before MPs next week to answer questions on the collapse of the boutique bank of the same name amid a huge lobbying row.
The former Prime Minister was an adviser to the firm, which provided supply chain financing to firms including billionaire industrialist Sanjeev Gupta’s GFG empire.
In the two months since the bank fell into insolvency, there have been repeated reports of Cameron lobbying ministers and officials including Chancellor Rishi Sunak on behalf of the firm.
The allegations have led to accusations of “Tory sleaze” from the Labour Party, as well as the launching of multiple inquiries into the firm.
Greensill, the founder of the bank in question, will answer questions from the Treasury Select Committee on Tuesday, with Cameron following on Thursday.
“We are determined to answer the key question as to whether HM Treasury responded appropriately to the lobbying on behalf of Greensill Capital, including that carried out by David Cameron”, said committee chair Mel Stride.
“We also want to establish what lessons there are from Greensill’s collapse for the operation of the financial system.”
The select committee has also already written to Mr Cameron, the Treasury, the Bank of England, the Financial Conduct Authority and UK Government Investments asking for information relevant to the inquiry. The responses will be published next week.
Along with Sunak, Cameron also contacted Treasury financial secretary Jesse Norman and economic secretary John Glen on Greensill’s behalf.
The former PM was trying to get officials to grant Greensill access to the government’s Covid Corporate Finance Facility, it was reported.
He also made several requests to Bank of England deputy governor Jon Cunliffe.