Bailey wades into lobbying row

BANK of England Governor Andrew Bailey has addressed the Greensill lobbying scandal – but said it was important to speak to ‘varied people’.

In a speech on diversity, Bailey said meeting with lobbyists was an unavoidable part of business, adding: ‘The answer is not to speak to noone. That is not likely to lead to good decision making. The answer is to be rigorous about speaking to a diverse range of people to get their views.’ It comes as Bailey faces questions from MPs on the Treasury Committee in May over the collapse of Greensill Capital, and why the nowbust lender had access to the Bank’s Covid corporate finance facility.

Greensill fell into administration last month, and it has emerged that it employed a network of political figures including former Prime Minister David Cameron to lobby officials.