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Greensill: Emails reveal Cameron's lobbying of Bank of England | |
(32 minutes later) | |
David Cameron resigned as prime minister in 2016, following the Brexit referendum | David Cameron resigned as prime minister in 2016, following the Brexit referendum |
More details have been revealed about David Cameron's attempts to lobby top officials on behalf of Greensill Capital. | |
The Bank of England said the former PM contacted it multiple times last year as the finance firm sought access to a Covid loan scheme. | |
Earlier, the Treasury's top civil servant told MPs Mr Cameron had called and texted him on his official phone. | Earlier, the Treasury's top civil servant told MPs Mr Cameron had called and texted him on his official phone. |
But Sir Tom Scholar added Greensill's proposals were ultimately rejected. | But Sir Tom Scholar added Greensill's proposals were ultimately rejected. |
Three MP-led inquiries and a lawyer-led government review are looking at the former Tory leader's work for the company, which collapsed in March. | Three MP-led inquiries and a lawyer-led government review are looking at the former Tory leader's work for the company, which collapsed in March. |
Mr Cameron, who began working for Greensill as an adviser two years after leaving Downing Street, has insisted he broke no lobbying rules. | Mr Cameron, who began working for Greensill as an adviser two years after leaving Downing Street, has insisted he broke no lobbying rules. |
What is the David Cameron lobbying row about? | What is the David Cameron lobbying row about? |
Lobbying probe invites Cameron to give evidence | Lobbying probe invites Cameron to give evidence |
Fears for 5,000 steel jobs as lender collapses | Fears for 5,000 steel jobs as lender collapses |
On Wednesday, the Bank published details of contacts between Mr Cameron and its officials during the early stages of the Covid crisis last spring. | On Wednesday, the Bank published details of contacts between Mr Cameron and its officials during the early stages of the Covid crisis last spring. |
They show the ex-PM contacted Bank officials before and after the firm applied to join a government scheme to support lending to businesses. | They show the ex-PM contacted Bank officials before and after the firm applied to join a government scheme to support lending to businesses. |
These include email exchanges with Sir Jon Cunliffe, the Bank's deputy governor. The Bank was running the scheme, along with the Treasury. | These include email exchanges with Sir Jon Cunliffe, the Bank's deputy governor. The Bank was running the scheme, along with the Treasury. |
Greensill Capital had wanted the terms of the Covid Corporate Financing Facility (CCFF) to be changed so it could take part in the programme. | Greensill Capital had wanted the terms of the Covid Corporate Financing Facility (CCFF) to be changed so it could take part in the programme. |
The request was ultimately rejected after the Treasury concluded the firm's proposals were not suitable. | The request was ultimately rejected after the Treasury concluded the firm's proposals were not suitable. |
'Persistent' | 'Persistent' |
Earlier on Wednesday, Sir Tom - the Treasury's permanent secretary - said Greensill Capital had "persistently" approached his department about being involved. | Earlier on Wednesday, Sir Tom - the Treasury's permanent secretary - said Greensill Capital had "persistently" approached his department about being involved. |
Giving evidence to MPs on the the Public Accounts Committee, he added: "We listened to what they said. We analysed it, we tested it and in the end, despite them submitting a series of successive proposals, we decided to reject them all." | Giving evidence to MPs on the the Public Accounts Committee, he added: "We listened to what they said. We analysed it, we tested it and in the end, despite them submitting a series of successive proposals, we decided to reject them all." |
Sir Tom, who previously worked for the former PM as a Europe adviser, told them Mr Cameron had rung him directly in April 2020, although the call did not include "substantive discussion" of Greensill's proposals. | Sir Tom, who previously worked for the former PM as a Europe adviser, told them Mr Cameron had rung him directly in April 2020, although the call did not include "substantive discussion" of Greensill's proposals. |
"It was simply a call to draw it to my attention," he said, adding that Mr Cameron had his work phone number "because I used to work with him". | "It was simply a call to draw it to my attention," he said, adding that Mr Cameron had his work phone number "because I used to work with him". |
Nine meetings | Nine meetings |
Asked if he would have taken a call from a lobbyist if they hadn't been a former prime minister, Sir Tom said: "I've also from time-to-time had calls from other senior people, maybe private sector people who I've previously worked with in another capacity." | Asked if he would have taken a call from a lobbyist if they hadn't been a former prime minister, Sir Tom said: "I've also from time-to-time had calls from other senior people, maybe private sector people who I've previously worked with in another capacity." |
He added: "I think it's natural when somebody that you know asks to speak to you... it's quite natural to take that." | He added: "I think it's natural when somebody that you know asks to speak to you... it's quite natural to take that." |
The second most senior official at the Treasury, Charles Roxburgh, told the committee he had met Mr Cameron and financier Lex Greensill - founder of the firm - at nine meetings spread out over four months from March to June 2020. | The second most senior official at the Treasury, Charles Roxburgh, told the committee he had met Mr Cameron and financier Lex Greensill - founder of the firm - at nine meetings spread out over four months from March to June 2020. |
Mr Roxburgh told the committee civil servants would not have consulted on their proposals "if we didn't think there was some potential - turns out there wasn't". | Mr Roxburgh told the committee civil servants would not have consulted on their proposals "if we didn't think there was some potential - turns out there wasn't". |
The Treasury is shortly expected to reveal further detail about its contact with Mr Cameron and Greensill in response to a Freedom of Information request. | The Treasury is shortly expected to reveal further detail about its contact with Mr Cameron and Greensill in response to a Freedom of Information request. |
It has already come to light that Mr Cameron contacted Chancellor Rishi Sunak and two other Treasury ministers to talk about Greensill. | It has already come to light that Mr Cameron contacted Chancellor Rishi Sunak and two other Treasury ministers to talk about Greensill. |
Mr Cameron has defended his work for Greensill but accepted he should have contacted ministers using more formal channels. | Mr Cameron has defended his work for Greensill but accepted he should have contacted ministers using more formal channels. |
He has said he welcomes the government review and will "respond positively" to any requests from MPs for him to give evidence. | He has said he welcomes the government review and will "respond positively" to any requests from MPs for him to give evidence. |