London Daily

Focus on the big picture.
Saturday, Aug 02, 2025

Ex-UK PM Cameron grilled over links to bankrupt finance firm

Ex-UK PM Cameron grilled over links to bankrupt finance firm

Former British Prime Minister David Cameron said Thursday he never suspected that a financial services company he lobbied for would go under, threatening thousands of jobs at a steel firm it helped finance.
Cameron was summoned to answer lawmakers’ questions about his efforts to win government funds for Greensill Capital. His involvement with the firm has spurred inquiries into political lobbying in Britain.

The former Conservative Party leader is a key link in a chain of contacts between government ministers, civil servants and Greensill, which collapsed in March. The bankruptcy forced the owner of Liberty Steel, which employs about 5,000 people, to seek a British government bailout. Greensill was one of the company’s key financial backers.

Cameron told Parliament’s Treasury Committee he had “no sense at all” that the company was in danger.

“There was certainly no sense of jeopardy” at board meetings, he said.

Cameron became a part-time adviser to the firm two years after he left office in 2016. Greensill Capital was founded by Australian banker Lex Greensill — a former adviser to Cameron’s government.

During the coronavirus outbreak, Cameron sent text messages to U.K. Treasury chief Rishi Sunak and emailed the Bank of England in an effort to secure government-backed loans for Greensill under a program to help companies hurt by the pandemic. He also lobbied Health Secretary Matt Hancock on behalf of a Greensill product that would have allowed health care workers to receive advance payments on their salaries.

Cameron said he was motivated by a desire to help support British workers and businesses “in the economic turmoil caused by COVID” and not by the prospect of making millions from his Greensill shares.

“I was paid an annual amount, a generous annual amount, far more than I earned as prime minister, and I had shares,” said Cameron, who earned about 200,000 pounds ($280,000) a year when he was U.K. leader.

“I absolutely had a big economic investment in the future of Greensill, I wanted the business to succeed,” he said. But he insisted the amount he stood to make was “a private matter.”

Prime Minister Boris Johnson’s Conservative government has launched its own investigation into lobbying, led by a lawyer, but opponents doubt it will get to the truth.

Opposition parties are calling for tougher rules on contacts between business representatives and government officials, saying Britain’s laxly enforced lobbying regulations leave the door open to corruption.

Cameron said his appearance before the committee, by video link, was “a painful day.”

“I abided by the rules that were in place,” he said. “But rules alone are never enough.

“I completely accept that former prime ministers are in a different position to others because of the office that we held and the influence that continues to bring. We need to think differently and act differently.”
Newsletter

Related Articles

0:00
0:00
Close
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
×