David Cameron quizzed by MPs over lobbying row
Follow us on Twitter @BBCPolitics | What's the Greensill lobbying row about? | David Cameron to face MPs over Greensill lobbying
Follow us on Twitter @BBCPolitics | What's the Greensill lobbying row about? | David Cameron to face MPs over Greensill lobbying
Live Reporting
Alex Kleiderman, Richard Morris and Mary O'Connor
All times stated are UK
Past remarks against lobbying highlighted
Labour's Siobhan McDonagh questions Cameron about his past remarks on the dangers of lobbying by ex-ministers and the fact that he ended up "bothering" the government himself after he left office.
"Do you understand the irony of having used them?" she asks.
Cameron highlights changes his government made in the amending lobbying rules.
McDonagh then goes on to press Cameron on whether he thought he had "demeaned yourself and position" by aligning himself with a company with "fundamental financial problems".
Cameron says: "I made a choice to work for a business that I hoped to be a UK fintec success story... What I did at the time of an economic crisis was what I genuinely believed to be a good idea."
Cameron says he thought Greensill could help
Simon Jack
BBC Business Editor
Cameron’s main points so far are that he admits he had a “significant economic interest in Greensill – exactly how much is a private matter” but says that the main reason for the urgency and persistence of his lobbying was because he thought Greensill could help in a crisis.
Treasury officials would have contact with the big banks and he felt that the kind of help Greensill could provide was less well understood.
Crucially, he says that during the period of the intense lobbying, he recalled conversations about concerns from customers and the non-functioning of the financial markets, but recalled no sense of jeopardy over the future of Greensill itself.
He also did not recall any discussions about the prospect of the critical insurance Greensill had taken out ( in case some of its customers went bust) being withdrawn.
MP asks Cameron why he put so much pressure on the government?
Ms Baldwin asks why Cameron was putting so much pressure onto the government over Greensill.
Cameron says he was persistent because it was an "economic heart stop," and all companies were under stress.
Ms Baldwin asks if Cameron is pleased or unhappy that the government said no to helping Greensill.
Cameron says the service Greensill was providing worked in the 2008 crisis, so he didn't see why it wouldn't work this time around.
He says the Treasury "gave a very good explanation" as to why they wouldn't be pursuing Greensill contracts.
Who is Sir Tom Scholar?
David Cameron was asked about his relationship with Sir Tom Scholar, the current Permanent Secretary at the Treasury.
Cameron described him as an “extraordinarily able civil servant”.
But who is he?
Sir Tom Scholar has been the most senior civil servant at the Treasury since 2016. He has served four chancellors of the exchequer in his role: George Osborne, Philip Hammond, Sajid Javid and now Rishi Sunak. He first joined the Treasury in 1992.
According to the texts and emails published this week, Sir Tom was one of the main targets of Cameron’s lobbying efforts on behalf of Greensill Capital.
Out of the 45 messages made public, sent by Mr Cameron and his staff to ministers and officials, 12 of them were sent to Sir Tom.
He appeared in front of the Public Accounts Committee last month, where he talked about having spoken to Mr Cameron about Greensill Capital. He defended his contact, telling MPs: “When somebody you know asks to speak to you, it is quite natural to take that”.
Was it all worth it?
Jonathan Blake
BBC political correspondent
Perhaps it just wasn't worth it?
Lobbying was necessary, David Cameron told the committee.
But he said former prime ministers doing so on behalf of commercial interests might be "too open to misinterpretation".
Ex-prime ministers should be held to a "higher bar" Cameron said, and that it "could be appropriate" to tighten the rules around contact and appointments after leaving office.
Those would be relatively modest changes compared to the overhaul of lobbying Mr Cameron argued was needed while he was in office.
'Why did you sign off your texts 'Love Dc'?'
Conservative MP Harriett Baldwin asks what the former PM's relationship is with Tom Scholar.
David Cameron says he was his "Number 10 Sherpa" for G7 and G20 meetings, who is "an extremely capable civil servant".
Ms Baldwin asks why the text to Mr Scholar was the only one he signed off with "Love Dc".
Cameron says this is "what he does" and his children are always telling him he doesn't need to sign off text messages.
Ms Baldwin asks if his relationship with Tom Scholar is a personal one.
Cameron says Mr Scholar is someone he has worked with, and it is not a personal relationship where he might come round for dinner. He says he's had "a drink with him" and seen him "a couple of times".
Mr Cameron adds that if there were to be any discussions on business matters, it would have been captured by the rules.
Reality Check
What is supply chain finance?
David Cameron spoke about government schemes to get money to small businesses.
Greensill Capital was involved in a scheme to make sure companies were paid by government departments on time - what's known as supply chain finance.
But what is it and how does it work?
One of the key problems in business, especially for smaller companies, is delays in other companies paying you for your goods or services.
The idea of supply chain finance is that a third company comes in and lends you the money straight away, charging a fee for the service.
When your customer pays the bill, that money goes to the lender to pay off the debt.
David Cameron was very enthusiastic about this in government and it was one of the things that Greensill Capital was involved with.
But there are concerns that this relatively simple process was made more complicated by some of the companies using it and that it may have hidden some of the cash-flow and debt problems that their customers were having.
Cameron: 'Personal gain not my motivation'
David Cameron tells the committee that the aim behind the approaches he made to government ministers was not personal gain.
The former PM says: "I can tell you the motivation for contacting the government was that I thought we had a really good idea for how to help extending credit to thousands of businesses...
"I've sat on the other side of the fence in government where you have a credit crunch, you have difficulties in the credit market."
He recalls having to give "very disappointing answers" to companies during his time in office and was therefore "very keen to put forward our scheme as I thought it was absolutely in the public interest to try and get money into small businesses".
No Mea culpa
Jonathan Blake
BBC political correspondent
David Cameron began his opening statement by declaring that it was "a painful day". He hardly needed to say it out loud.
Speaking slowly and relatively softly, Cameron seemed to have less of the easy, informal confidence he carried as prime minister.
But this is not a Mea culpa. He said there were lessons to learn, that on reflection he should've communicated differently.
But there was no apology for his actions and a reminder that it was "accepted" that he hadn't broken any rules.
BBC Business editor tweets:
Cameron: My pay a 'private matter'
Cameron declines to answer questions about how much he stood to make out of working for Greensill.
There were reports he would get up to £60m. He said he got an annual salary, and had shares in the business - describing his total remuneration as a "sizeable economic interest".
He tells MPs that the exact figure was "a private matter" but he describes speculation about £60m figure as “absurd”.
'I wasn't involved in the running of Greensill' - Cameron
Before the committee chairman Mel Stride asks his first question, he seeks an assurance from David Cameron that he will return to the committee if they do not get through all their questions.
He tells Cameron his opening remarks were longer than had been agreed.
After some coaxing Cameron agrees to return if necessary.
Mr Stride then goes on to ask Mr Cameron whether he attended Greensill Capital board meetings and took part in discussions, even though he was not on the board.
Cameron confirms he did, adding: "I would make contributions... I was a regular attender and would contribute... geopolitical things".
But he stressed: "I wasn't involved in the day to day running of the business or credit decisions."
Reality Check
Who is Lex Greensill?
Alexander "Lex" Greensill is an Australian banker and the founder of Greensill Capital, a finance company which went bust in March with the loss of 440 jobs.
He worked as an unpaid adviser in Downing Street in the early 2010s, when David Cameron was prime minister.
He was tasked with finding ways to make sure that government departments paid suppliers on time.
However, a Sunday Times investigation claimed many in Whitehall had serious reservations about his role, and about the value of the scheme, from which Greensill Capital would benefit.
More recently, Greensill Capital was the principal lender to the British steel business, Liberty Steel. Its collapse has put Liberty's future in doubt, with the possible loss of thousands of jobs.
Greensill could have helped the country during the pandemic - Cameron
Cameron says he believes Greensill could have helped the country in its time of crisis.
"Greensill was not asking for direct government support, or any kind of bailout," and he says he was not aware of the financial situation of the failed firm.
"I am desperately sorry" that the company went into administration, he states.
He has "no special insight" into what went wrong at the company.
"Former prime ministers are in a different category," he states, saying a new special committee "might help with choices that need to be made" for external appointments.
Cameron: I hope no rules were breached
Reading his statement, David Cameron says that prime ministers need to think differently and behave differently.
He says having a former prime minister in lobbying could be seen as too close to government.
He says he hopes "it's accepted that nothing I did was in breach of the rules."
"I was not employed at Greensill as a lobbyist" and he says his role was never intended to be one of lobbying. Because of the "economic turmoil" his job with the company took on a different role, he adds.
Cameron says personal conduct vital
David Cameron begins his opening remarks by saying this is a "painful day for him".
He says that "personal conduct and codes of behaviour" are vitally important.
"These things matter... I accept that former prime ministers are in a different position to others."
Reality Check
What is the row about?
Former Prime Minister David Cameron has just begun making an opening statement, and he will answer questions from MPs about his work for the collapsed finance company Greensill Capital.
Two committees – the Treasury Select Committee and the Public Accounts Committee – are investigating the way Mr Cameron lobbied ministers and officials on behalf of the firm and how the government responded.
Mr Cameron used private channels to lobby ministers and former colleagues, including emails, texts and WhatsApp messages.
But he denied that he broke any codes of conduct or any government rules on lobbying.
For more, read our simple explainer here about what the row is about.
Questions begin
The cameras have been switched on, and chair of the Treasury committee Mel Stride is making his welcoming remarks.
David Cameron has joined the session by video link.
The session has begun.
Stay with us.
What is the Treasury Committee?
Today's Treasury committee hearing is part of its Lessons from Greensill Capital inquiry.
The commitee is a cross-party group of 11 MPs appointed to scrutinise the workings of the Treasury and its associated public bodies.
It is chaired by the Conservative MP Mel Stride.
The committee is made up of five other Tory MPs, including Steve Baker, Harriett Baldwin and Felicity Buchan; four Labour MPs including Rushanara Ali and Dame Angela Eagle, and the SNP's Alison Thewliss.
What is lobbying?
Lobbying is when individuals, businesses, trade unions, groups or charities try to get a government to change its policies.
"Political persuasion" might be a better term.
Lobbyists make their case to ministers, MPs or officials.
They can write, email, text, phone, video call or turn up in person in Parliament to do it, although the latter hasn't happened over the past year due to Covid-19 restrictions.
Read our brief guide here.