U.K.’s Sunak Told Cameron He ‘Pushed’ Treasury Over Greensill

(Bloomberg) -- Chancellor of the Exchequer Rishi Sunak is facing fresh demands for an inquiry into his conduct, after it emerged he “pushed” his officials to consider helping Greensill Capital following a request from former Prime Minister David Cameron.

Texts released by the government show that after Cameron -- a Greensill lobbyist -- messaged Sunak, the chancellor replied to say he had asked his team to look at ways to give Greensill access to the state’s Covid Corporate Finance Facility.

What is known of Cameron's lobbying on behalf of Greensill

“I have pushed the team to explore an alternative with the Bank that might work,” Sunak said in one text senMore on what we know of Cameron’s lobbying efforts on behalf Greenst April 23, referring to the Bank of England, which administered the CCFF program. “No guarantees, but the Bank are currently looking at it.”

The U.K. watchdog has cleared Cameron of unregistered lobbying, but the former leader’s efforts on behalf of Greensill have opened the government up to accusations of cronyism. The opposition Labour Party has sought to focus attention on Sunak’s role.

Sunak’s texts were released by the Treasury following a Freedom of Information request. Cameron’s messages to Sunak were not released.

“These messages raise very serious questions about whether the chancellor may have broken the ministerial code,” said Labour’s shadow chancellor Anneliese Dodds. “They suggest that Greensill Capital got accelerated treatment and access to officials, and that the chancellor ‘pushed’ officials to consider Greensill’s requests.”

Dodds called for “a full, transparent and thorough investigation” into what happened.

Explaining Supply Chain Finance and Greensill’s Woes

©2021 Bloomberg L.P.