Cameron and Greensill: a timeline of events in the lobbying scandal

David Cameron is at the centre the UK’s largest lobbying scandal in a decade.

Through emails, text messages and meetings, the former prime minister relentlessly pushed government and central bank officials on behalf of Greensill Capital – even as the pandemic unfolded.

The key moments include:

August 2018: A new job …

David Cameron becomes “part-time” special adviser to Greensill Capital, a supply chain finance firm. Cameron says he was partly paid in share options, the value of which he has refused to disclose.

October 2019: Drinks with Hancock …

Cameron arranges a “private drink” with Matt Hancock, the health secretary, to promote the company’s wage advance app, Earnd, for use across the NHS. He brings Greensill founder and chief executive Lex Greensill and one of its board members, former senior civil servant and the government’s head of procurement Bill Crothers.

January 2020: A trip to Saudi Arabia …

Cameron flies with Lex Greensill to Saudi Arabia to meet crown prince Mohammed bin Salman, who has been accused of approving the murder of the journalist Jamal Khashoggi.

Cameron has said he was helping Greensill with plans to open a new regional office in Riyadh.

5 March 2020: emails to the Bank of England …

The Covid-19 virus has spread to at least 81 countries and territories, including Italy. Concerns are being raised about how the global supply chains may be affected.

Cameron emails the Bank of England deputy governor, Jon Cunliffe: “I do a lot of work with Greensill Capital, now the world leaders in this space. We would be keen to help … Do you have a moment for a quick word? I am on my old number or can call you whenever convenient. All good wishes. Dc.”

Cunliffe responds within an hour. Cameron holds a call that afternoon with James Benford, private secretary to the Bank of England’s outgoing governor Mark Carney.

The former prime minister follows up with an email to Benford to introduce Lex Greensill:

“The purpose of this email is to introduce you to Lex Greensill, founder and CEO of Greensill Capital (GC)… I am an adviser to the company. We would be keen to step and help during the current difficulties. Perhaps a first stage would be for Lex and/or some of his team to meet with some of your experts to discuss how the market works and the role of GC within it.”

7 March 2020

Cameron arranges a Saturday call with Cunliffe. Bank of England briefing notes shows they discussed the possibility of central bank support for supply chain finance, Greensill’s speciality. Cameron asks if Lex Greensill could brief the deputy governor about Greensill’s business model. Cunliffe agrees.

8 March 2020

Cameron follows up with Cunliffe on Sunday to “re-introduce” the deputy governor to Lex Greensill, who is cc’d in the email.

Cameron writes: “As I have discussed with both of you, I think it would be good to get together to discuss what more can be done to help companies with supply chain finance, and to understand the new shape and scale of the market. I have copied this to Chiefs of Staff in my and Lex’s office. Jon, if you could do the same we can try and make this work relatively rapidly. All good wishes. Dc.”

17 March 2020

The UK chancellor, Rishi Sunak formally announces a package of state-backed loans worth £330bn aimed at keeping businesses afloat during the Covid crisis, including what would become the target of Cameron’s lobbying efforts: the Covid Corporate Financing Facility (CCFF).

A call takes place that day between Cameron, Greensill and Bank of England officials, including financial policy committee member Alex Brazier.

Cameron and Greensill explain the lender is facing financial pressure due to market turmoil sparked by the pandemic.

The call came a day after Greensill emailed Cunliffe, asking for the Bank to support its lending operations by buying up to £10bn-£20bn of packaged loans.

30 March 2020

One of the Treasury’s permanent secretaries, Charles Roxburgh, writes to Greensill, confirming the lender did not quality for the CCFF.

3 April 2020: Text to Rishi Sunak …

Eleven days after the UK enters into its first nationwide Covid lockdown, and three days before prime minister Boris Johnson is admitted to intensive care, Cameron texts chancellor Rishi Sunak, asking to talk.

Sunak replies to say he is stuck in back-to-back meetings but will try call back later.

Cameron calls Sheridan Westlake, a veteran special adviser, who formerly served under Cameron, and sends a follow-up email first reported by the Times: “What we most need is for Rishi to have a good look at this and ask officials to find a way of making it work. It seems nuts to exclude supply chain finance.”

16:21pm

While the Treasury had final authority over the CCFF scheme, Cameron continued to pursue his contacts at the Bank of England.

Cameron again emails Bank of England deputy governor, Jon Cunliffe: “Jon, Am writing to ask for your help. Greensill – who I work with – have had numerous conversations with HMT but have failed to get anywhere.

… Am obviously talking to HMT, but would be grateful for any light you could shed on this …”

Later that evening …

Cameron holds a call with the economic secretary to the Treasury, John Glen.

According to Treasury briefing notes, Cameron argued that there was precedent for including Greensill in the CCFF.

22 April 2020: “It is incredibly frustrating …”

Cameron again emails the Bank’s deputy governor to push the issue of including Greensill in the CCFF.

“Apologies for bothering you about this again. We (Greensill) have had lots of conversations with HMT and while every question seems to have been answered, we haven’t yet got to the green light.

“It is incredibly frustrating because (as you know) trade finance paper was included in a similar scheme in 2008/9 and it would work again.

“I ask you to do a one to one call with Lex Greensill so that he can brief you on where we have got to. This comes with all good wishes.”

23 April 2020

Sunak texts Cameron to confirm he has “pushed the team to explore an alternative with the Bank that might work.” He promises that one of his permanent secretaries will be in touch.

10 June 2020

Greensill is accredited to the coronavirus Large Business Interruption Loans Scheme (CLBILS), the second largest Covid emergency support scheme after the CCFF.

26 June 2020

The Treasury sends an email to Greensill, cc’ing Cameron, to confirm it has rejected the proposal to be included in the CCFF.

Cameron exchanges texts with John Glen. The economic secretary to the Treasury apologises for the delay in getting back to Cameron and confirms that Greensill’s proposal has been refused.

Glen offers to hold a call “privately” with the former prime minister that afternoon to discuss the matter.

Cameron’s text responses have been redacted from Treasury documents.

Cameron insists he has broken no rules at any point, though he accepts he should have gone through more formal channels.