Cameron’s texts lobbying for Greensill revealed
FORMER prime minister David Cameron bombarded ministers and Government officials with texts as he lobbied for Greensill Capital. Here are some of the key messages Mr Cameron sent, as published by the Commons Treasury Committee yesterday:
■ March 6, 2020 to Treasury permanent secretary Sir Tom Scholar: “Never quite understood how rate cuts help a pandemic... [redacted]... I am riding to the rescue with Supply Chain Finance with my friend Lex Greensill – my new job... [redacted]... See you with Rishi’s for an elbow bump or foot tap.”
■ April 3, to Sir Tom, referring to the Government’s Covid Corporate Financing Facility (CCFF): “Again Greensill have got a ‘no.’ Am genuinely baffled. Letter says CCFF is there to provide liquidity for ‘non financial corporates.’ That is what we do. The fact the notes are issued by a financial entity is irrelevant . ... Can I have 5 minutes for a call? This seems bonkers. Am now calling CX [Chancellor], Gove, everyone.”
■ April 3, to Chancellor Rishi Sunak: “Rishi, David Cameron here. Can I have a very quick word at some point? Call any time on this number. HMT are refusing to extend CCFF to include supply chain finance, which is nuts as it pumps billions of cheap credit into SMEs. Greensill Capital, a British Fintech success story (who I help) are the champions of this . ... Think there is a simple misunderstanding that I can explain.”
■ April 3, to Cabinet Office minister Michael Gove: “I know you are manically busy... But do you have a moment for a word? I am on this number and v free.”
■ April 3, to Mr Sunak: “First thing would be fine – I can imagine how busy you must be. You are doing a great job – keep going! Speak tomorrow.”
■ April 3, to Mr Gove: “Ta. Am now speaking to Rishi first thing tomorrow. If I am still stuck, can I call you then?”
■ April 4, to Mr Sunak: “Rishi – ready to speak whenever you are free. Just sent a one pager that I hope clarifies things. Really appreciate your time.”
■ April 4, to Sir Tom: “Good chat with CX. Ultimately my ask was for one more high level chat – Charles [Roxburgh, senior Treasury official], you and Lex – to see if these objections about boundaries and precedents can’t be overcome. He agreed. We can do that anytime today or tomorrow. Meantime, could you possibly call Lex [Greensill] to get his perspective on how fixable this is?”
■ April 4, to Mr Sunak: “Really grateful for your engagement on this. As agreed, I think one more conversation – Tom S, Charles R and Lex Greensill – is what’s required.
■ April 22, to Mr Sunak: “Rishi, Just to report back. Three weeks later and while constructive conversations have taken place, the situation is still stuck – supply chain finance is vital but is not yet included in the CCFF scheme... Apologies for troubling you again, but I can’t see the case against helping to fund supply chains and SMEs in this way. Could you try and give it another nudge over the finish line – this is clearly in the national interest.”
■ June 6, to Treasury minister John Glen: “Thanks for your help with this. Sorry the answer is a ‘no’ but we appreciate the engagement.”