Devastating story about David Cameron in today’s Sunday Times, alleging he sought to make money out of the wages of NHS staff coping with the pandemic, and the government tried hard to accommodate him. If true, surely the greatest ethical scandal in British political history pic.twitter.com/8vrQ6SL61U
— Robert Harris (@Robert___Harris) April 11, 2021
About which the P³ says:
It would seem Cameron, Greensill and those they tried to sell this to in the UK government and elsewhere believed that the NHS really could be so cash strapped that it could sell its potential to receive future cash payments from the UK government as the security to back a bond it would issue, presumably at quite high price with a good cut for Greensill built in, to fund an NHS pay rise.
No. That’s not what was on offer at all. This is:
Earnd offered the scheme free to workers, who could opt to receive their wages on a daily or weekly basis. The organisation providing the immediate payment in such instances was Earnd, which would later recoup staff salaries from the NHS.
Greensill framed the scheme as benevolent, saying the aim was to help alleviate NHS workers’ stress during the pandemic. But two senior former employees say the plan was to convert the NHS’s future payments into bonds and sell them internationally. They also used the credibility of working with the NHS via the service, and a separate pharmacy scheme agreed by Cameron during his time in office, to demonstrate their credibility with investors.
Bloody stupid idea if you ask me but it is still entirely different from what the P³ thinks it is. It’s entirely bugger all to do with NHS cashflows and wholly to do with NHS staff cashflows.
The P³ again:
This is corrupt, in the sense that all involved should know that nothing on earth could require this because at any time the government could have costlessly provided all the money the NHS might have needed to provide a pay rise, and yet the idea was still promoted for private gain. There was, then, a blatant attempt made to advance private interest at cost to the public purse. It did not happen, yet the fact that it was even attempted is shocking.
I stress, because nothing was agreed and these bonds were not used that there is no wrongdoing, but what did happen was that ignorance, reaching right up it seems to former prime ministerial level, about the way in which government creates money and does so costlessly was to be exploited in a way that could have been very costly, and all for absolutely no public purpose or benefit.
Actually, ignorant fuckwit seems a better description.