Lord Cameron Denies Receiving £10m from Greensill Capital

Former British Prime Minister Lord Cameron has vehemently denied allegations that he received a £10m payment from the scandal-hit financial firm, Greensill Capital. Lord Cameron, who had served as an advisor to the firm, declined to disclose his earnings from Greensill, but confirmed that he had declared all his financial interests to the government. The allegations stem from leaked documents in 2021 which indicated that Lord Cameron earned £8.2m promoting the company. However, Lord Cameron clarified in an interview with Laura Kuenssberg that the figure was inaccurate.

Lord Cameron, claiming that he was a private citizen at the time and had already left his position as prime minister, stated that the allegations were untrue. He further added that since his return to politics as the foreign secretary, he had disclosed all the companies he had been working for to the House of Lords‘ Standards Commissioner. When pressed on whether he had indeed received £10m from Greensill Capital, Lord Cameron simply responded with a firm denial.

Greensill Capital, whose founder Lex Greensill was granted an office in Downing Street during Lord Cameron’s premiership, collapsed in March 2021. Subsequently, Lord Cameron was hired as an advisor by the company to push for its inclusion in the government’s Corporate Covid Financing Facility (CCFF) scheme. The CCFF would have allowed Greensill Capital to provide government-insured loans to support businesses through the pandemic. Despite Lord Cameron’s efforts, the company was not granted access to the scheme, and ultimately collapsed, leading to job losses and potential financial losses for investors.

The collapse of Greensill Capital prompted criminal investigations into alleged fraud in Germany and Switzerland. Lex Greensill has been named as a suspect in these investigations. Lord Cameron’s involvement in the lobbying scandal surrounding Greensill resulted in inquiries being launched in Westminster. A parliamentary inquiry estimated that the collapse of Greensill could cost taxpayers up to £5bn. Although Lord Cameron maintained that he had not broken any rules, the investigation concluded that he had shown a significant lack of judgement in his lobbying efforts for the company.

Lord Cameron acknowledged that he should have communicated with the government through formal channels rather than through informal means such as text messages and WhatsApp. He and his staff sent numerous messages and emails in a bid to secure access to the government-backed loan scheme for Greensill Capital. Lord Cameron expressed frustration at the denial of the loans, describing it as “nuts” and “bonkers”.

The scandal surrounding Lord Cameron’s involvement with Greensill Capital has stirred controversy and raised questions about the relationship between influential figures and private financial interests. The former prime minister’s denial of the alleged £10m payment and his refusal to disclose his earnings from Greensill is likely to fuel further debate on the issue.