While Cameron was British prime minister from 2010 to 2016, the Australian banker was brought in as an adviser to the government. After leaving office, Cameron in turn became an adviser to Greensill’s now-insolvent finance firm.

The Financial Times and Sunday Times newspapers have reported that Cameron contacted ministers directly to lobby on behalf of Greensill Capital, including sending texts to finance minister Rishi Sunak and arranging a private drink between Greensill and Health Secretary Matt Hancock.

In his first comments on the row on Sunday, Cameron said that in his representations to government he was breaking no codes of conduct and no government rules.

Ultimately the outcome of the discussions on Greensill’s proposals regarding a loan were not taken up, he said, and therefore his interventions did not lead to a change in the government’s approach.

“However, I have reflected on this at length,” he said in a statement to the Press Association news agency.

“There are important lessons to be learnt. As a former Prime Minister, I accept that communications with government need to be done through only the most formal of channels, so there can be no room for misinterpretation.”

Ultimately the outcome of the discussions on Greensill’s proposals regarding a loan were not taken up, he said, and therefore his interventions did not lead to a change in the government’s approach.

“However, I have reflected on this at length,” he said in a statement to the Press Association news agency.

“There are important lessons to be learnt. As a former Prime Minister, I accept that communications with government need to be done through only the most formal of channels, so there can be no room for misinterpretation.”

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