Commons probe will examine Treasury’s role in Greensill row

David Cameron is being invited to give evidence to the committee.

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A Commons probe will examine whether the Treasury did “everything absolutely by the book” when it was lobbied to give Greensill Capital access to a Covid-19 finance scheme.

Mel Stride, Conservative chairman of the Commons Treasury Committee, said it would also assess whether firms like Greensill could pose a financial stability risk to the country.

Chancellor Rishi Sunak, financier Lex Greensill and former prime minister David Cameron, who lobbied the Treasury on behalf of Greensill, are being invited to give evidence to the committee.

Mr Stride emphasised that the influential committee would initially hear from other experts so it could understand supply chain finance, which was used by Greensill, and also investigate how the firm was structured, operated and what led to its collapse.

The inquiry will also examine how the Treasury including Mr Sunak responded to lobbying by Mr Cameron and other people linked to Greensill.

“Did it do everything by the book, or were there areas where it could have done things differently, and what are the lessons learned?” said Mr Stride.

“We have a completely open mind about that, there is no suggestion we are going into this expecting to find the Treasury wanting.

“But we do want to reassure ourselves that everything was done absolutely by the book.”

Mr Cameron has previously said he will “respond positively” to requests for evidence.

A string of inquiries have been launched into the Greensill affair.

The firm has filed for insolvency, putting at risk thousands of UK steelmaking jobs.

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