Access is all that matters for Cameron and Greensill

During an unfolding scandal about a politician and money, and the possible buying of favours, a senior Labour figure once explained to me that I had to understand that one of the central characters was very rich indeed. “When he gets his wallet out it’s got real fifties in it.”

I listened in amazement. What was that a sign of, that the person in question carried round a bundle of readies to dispense to those in need? What it did say was that Labour politicians went weak at the knees in the face of what they considered to be impressive wonga.

It’s always stayed with me, that description. The speaker was not a fool, politically he was extremely astute, he knew how to manoeuvre his way round Westminster and Whitehall, was expert in playing the system. What it showed was the yawning chasm between those who go into politics as a career and those who enter business, that when the former comes close to money they frequently lose all sense of reality.

In truth, the bloke with the fifties wasn’t super wealthy but by those who were used to a public sector wage, he was right up there. The fact the easily-swayed observer was Labour was not important – I could just as easily have heard the same from a Tory, perhaps without them being so bowled over by the sight of £50 notes, but they too throw caution to the wind in the presence of someone with lots of dosh to their name.

Here we are today, looking at a former Conservative prime minister for whom what many folk would consider to be a gorgeous house in the Cotswolds and a £2m holiday home in Cornwall, a pension, the ability to command six-figure sums for speaking engagements, a substantial book advance and a wife with her own fashion brand, are not enough.

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By the standards of some of those he socialised with and grew up with and accompanied into the public arena, it was not that much. Alongside the heaviest Tory donors it was even less. David Cameron wanted more – hence his decision to become an adviser to Greensill, the finance house and now, the row about what exactly the ex-PM did for them.

Cameron wished to get rich, he saw the chance to pick up some equity and if all had gone to plan to one day cash-in his shares for several tens of millions. Instead, with Greensill’s collapse, the holding is worthless and his role is being severely questioned.

The news that he texted a senior government minister on the firm’s behalf has been greeted with shock in some quarters. Why? What did they suppose Greensill was hiring Cameron for, because he was a seasoned financier? No, they wanted him for two reasons, one of which far outweighed the other in value.

Sure, they desired his insight into the workings of the UK government and they craved his high-level network. The former was useful and they could also market that knowledge to clients, that they had Cameron on board and he would share with them his views. Possibly, he may have shared his experience of the decision-making, policy-forming process. But the point about this is it’s no great deal – much of it is readily available elsewhere.

What is not so obtainable is being able to text the chancellor and make a direct plea for Greensill. That’s why they welcomed him, that’s why they were prepared to let him have some stock, that was his worth.

Demands are being made for sight of Cameron’s employment contract. It won’t reveal much – it’s certainly not going to detail the number of messages and calls he should make, how many ears in which he’s expected to have a quiet word.

For anyone to argue that’s not so, that Cameron was employed for some other reason, is disingenuous. The only attribute that former politicians and ex-senior insiders possess that businesses seek is their contacts.

I did a check of those who constituted the inner circle in Downing Street during the Cameron years. Virtually every single one of them has been taken on somewhere as an “adviser”. In reality, they’re not “advising” on anything that is especially useful and justifies their wages.

What they bring is their “black book”. Here, though, businesses are sometimes deluded. It’s true their recruit can cut through and may be on first-name terms or matey with a minister or an official. The likelihood, however, is that if the matter is sensitive they may be listened to and that is all.

It was indicative that Rishi Sunak read Cameron’s request and referred it to an official – he did not act upon it himself. That may suggest the relationship between old boss and chancellor is not so close or that Sunak is too canny to commit the mistake of bypassing procedure to benefit Cameron’s firm.

Not everyone is so cautious. Clearly Cameron must have supposed his entreaties would succeed, which suggests he knew of instances where similar requests had achieved their goal.

We should be under no illusion as to what is going on. It’s not a question of staying within the rules – as an employee of Greensill, Cameron did not break the lobbying regulations, such as they are. It’s that we’re not taken in by the protestations and fine print. Access is all that matters.