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Australian banker Lex Greensill was brought in as an adviser to
the government while Cameron was British prime minister from
2010 to 2016. After leaving office, Cameron in turn became an
adviser to Greensill's now-insolvent company.
The Financial Times and Sunday Times newspapers have reported
that Cameron contacted ministers directly to lobby on behalf of
Greensill Capital, including sending text messages to finance
minister Rishi Sunak and arranging a private drink between
Greensill and Health Secretary Matt Hancock.
Cameron, in his first comments on his actions on Sunday, said he
had not broken any rules, but that he accepted his communication
with government should be completely formal.
Britain's Treasury has said Cameron contacted Sunak and two
other ministers in the department to ask if Greensill could have
access to the government's COVID-19 loan schemes at the start of
the pandemic.
Prime Minister Boris Johnson's spokesman said Johnson understood
the "significant interest" in the matter and wanted to start the
review to "ensure government is completely transparent about
such activities".
The review will be led by Nigel Boardman, a partner at law firm
Slaughter and May, and will report to Johnson by the end of May.
Boardman will step aside from his role as a non-executive
director at Britain's business ministry during his
investigation.
"The Prime Minister has asked Mr Boardman to conduct a review
that will look into the decisions taken around the development
and use of supply chain finance (and associated schemes) in
government, especially the role of Lex Greensill and Greensill
Capital," the government said.
Johnson's spokesman added that the review "will also look at how
contracts were secured and business representatives engaged with
government".
Cameron said that in his representations to government he did
not break any codes of conduct or government rules.
Ultimately the outcome of the discussions on Greensill's
proposals on a loan were not taken up, he said, and therefore
his interventions did not lead to a change in the government's
approach.
"However, I have reflected on this at length," he said in a
statement to the Press Association news agency.
"There are important lessons to be learnt. As a former prime
minister, I accept that communications with government need to
be done through only the most formal of channels, so there can
be no room for misinterpretation."
(Reporting by Elizabeth Piper and David Milliken; Editing by
Kate Holton, Nick Macfie and Grant McCool)
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