The former prime minister’s actions on behalf of a financial firm leave him a diminished figure
David Cameron has yet to comment on the revelation that he unsuccessfully badgered Rishi Sunak to agree to emergency loans for a company in which he had share options. Last week, the lobbying watchdog (created by Mr Cameron) ruled that, as he was technically an employee of the firm, the former prime minister broke no rules by repeatedly texting the chancellor’s private number. Perhaps Mr Cameron thinks that should be an end to the matter.
It must not be. The Greensill Capital affair sums up what is wrong with a cosy revolving-door culture in British politics. According to reports at the weekend, between 2012 and 2015 the company’s Australian owner, Lex Greensill, was informally allowed the run of Whitehall by Mr Cameron and his cabinet secretary, Sir Jeremy Heywood. During this time, he acted as a supply-chain finance adviser to the government, with extensive input across departments. Mr Greensill’s firm, which has now gone bust, garnered lucrative business as a result of one of his proposals, which was reportedly adopted against civil service advice.
