Tuesday 20 July 2021 / 12:14 AM Bridget Phillipson / Economy

Bridget Phillipson responds to Treasury Select Committee call for tougher regulations for non-bank lenders after Greensill collapse

Bridget Phillipson MP, Labour’s Shadow Chief Secretary to the Treasury, responding to the Treasury Select Committee call for tougher regulations for non-bank lenders after the Greensill collapse, said

“The Select Committee say the Treasury should have encouraged more formal lines of communication with David Cameron – but it was the Treasury itself that failed to communicate with the British Business Bank about the concerns surrounding Greensill, leading to the firm getting access to £400 million of government-backed loans.

“The cronyism, recklessness and sheer waste under this Conservative government has to stop.”