Labour Party Demands Inquiry into Mr Cameron Links to Greensill
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Labour Party Demands Inquiry into Mr Cameron Links to Greensill

ITV reported that former British Prime Minister Mr David Cameron is under fire over his connection to a financial services company Greensill which collapsed

ITV reported that former British Prime Minister Mr David Cameron is under fire over his connection to a financial services company Greensill which collapsed amid scandal earlier this month. An investigation by the Sunday Times alleged that Mr Greensill enriched himself through a government-backed loan scheme he designed after the then prime minister gave him access to 11 Whitehall departments and agencies. The Sunday Times report alleged the Australian financier was given access to the departments while Mr Cameron was in No 10 so he could promote a financial product he specialised in.

Labour has demanded an inquiry having raised concerns that Mr Cameron as prime minister ordered Conservative peers to vote against proposals which would have stopped him lobbying for Greensill Capital. Labour says the collapse of Greensill could have been avoided had the Conservatives supported changes to the Lobbying Act in 2014. Labour leader Sir Keir Starmer said there should be an inquiry into David Cameron’s dealings with Greensill

Mr Cameron was employed by Lex Greensill as an advisor after he left Downing Street in the wake of the Brexit referendum in 2016. In his new role, the former Conservative leader reportedly tried to persuade government figures to grant emergency loans to Greensill Capital.

Greensill Capital was founded by 44 year-old Australian Mr Lex Greensill with the aim of making finance fairer and democratising capital. The company, which set out to make it easier and faster for companies to pay their bills, filed for insolvency protection in March this year leaving Liberty Steel in a precarious situation. Greensill was the main financial backer of Liberty Steel and its collapse has left the firm, which employs around 5,000 workers at a number of sites across the UK, facing an uncertain future.

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