Greensill Capital

Meg Hillier Excerpts

Tuesday 13th April 2021 Commons Chamber

[Paul Scully]

My hon. Friend will appreciate the audit reforms that we are consulting on. It is absolutely right that the markets work when they are transparent and open, which is why we are determined to make sure that, in the light of recent failures, we get these audit reforms through, and I look forward to his contribution to that debate.

[Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)]

It is incredibly sad and disappointing that, throughout this pandemic, we have seen too little transparency from Government about every aspect of how taxpayers’ money is being spent. The Government keep saying to the House, “Well, it was terribly difficult in those first two months.” We are now a year on, and we are still uncovering more. Is the Minister really satisfied that a six-week inquiry, dragged out as an announcement by the Prime Minister yesterday, is enough to shine sunlight on the millions of taxpayers’ money that has been given to organisations such as Greensill, backed by Government and therefore a loss to the taxpayer when things go wrong? Is six weeks enough, and will he commit to far more transparency, including, if necessary, calling witnesses before this House?

[Paul Scully]

The hon. Lady talks about two different things. There is a review into supply chain finance and the request from Greensill Capital, but there is also the wider view of how taxpayers’ money was spent when the Government were working about as close to real time as they will ever get to do. Business owners will understand the huge difference between the speed at which business and Government work. We will review how taxpayers’ money has been spent, but we will also make sure that, as my hon. Friend the Member for Redcar (Jacob Young) said, we chase people who have used Government grants and support inappropriately.