UK: David Cameron made £7.2 million from a collapsed finance firm he lobbied for

WION Web Team
NEW DELHI Published: Aug 09, 2021, 11:25 PM(IST)

David Cameron Photograph:( AFP )

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Cameron made headlines after it was revealed that he exploited his proximity to current cabinet colleagues to attempt to persuade them to back the bank's loans with public money.

Greensill Capital, the firm for whom  former UK prime minister David Cameron lobbied ministers before it failed, reportedly paid him $10 million (£7.2 million).

According to BBC Panorama, when the former prime minister cashed in Greensill shares in 2019, he gained $4.5 million after taxes, according to stolen papers.

This was on top of his $1 million-a-year advisor pay and a $700,000 bonus in 2019. 

After failing, the firm left investors and UK taxpayers with massive losses.

Cameron made headlines after it was revealed that he exploited his proximity to current cabinet colleagues to attempt to persuade them to back the bank's loans with public money.

Despite the fact that he was unsuccessful in his attempts, the bank was eventually granted access to another Covid-19 loan facility.

He has come under fire for contacting government ministers and officials on behalf of Greensill last year in an attempt to urge them to give the company access to the Covid emergency loan scheme.

Cameron has claimed that he was unaware of the company's precarious financial situation when he campaigned for taxpayer help. 

(With inputs from agencies)

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