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Today I asked Rishi Sunak why he was freezing pay for people in our public services while giving Greensill the run of Whitehall.
The Chancellor found it easier to defend the pay freeze. And that says a lot. A little thread…
The Chancellor found it easier to defend the pay freeze. And that says a lot. A little thread…
2. In March last year, when Sunak was Chancellor, David Cameron told the office of the Governor of the Bank of England, that his firm had “the mandate for the UK government”.
3. Greensill were telling the Bank at the same time that they were “the sole provider of HMG’s supply chain finance programmes”.
4. As recently as November, a document from Earnd tells us Greensill were telling NHS trusts that their model “brings several benefits...to the UK public sector.”
5. Though at least there they were honest about the other effects: it “helps us grow our global business.” https://www.thisismoney.co.uk/money/markets/article-9507237/Greensill-touting-David-Cameron-four-months-collapse.html">https://www.thisismoney.co.uk/money/mar...
6. Because what Earnd and Greensill are doing is clear. They are getting into the way government pays public service workers, for profit.
7. Why? Their FAQ for NHS trusts gives it away. It helps to grow their business. They were trying to grow by using the fact the NHS pays staff on time.
8. Because if Greensill is paying NHS staff early, but knows it will be paid by the UK government soon, that’s a very secure financial product.
9. And even if they are not seeking to make a profit from that work directly, it provides volume for their broader model. As they say, “it helps us grow our global business.”
10. So what Greensill wanted to do was clear. NHS staff, too many of whom are not paid enough, too many of whom rely on foodbanks and pay day loans - the government was happy to turn them into a commercial opportunity for Cameron and his mates.
11. But what it wasn’t prepared to do in November, wasn’t prepared to do in March, and still isn’t prepared to do, is pay them a proper rate for the amazing work they do.
12. This government is an absolute disgrace.
