Source · Select Committees · Business and Trade Committee
Recommendation 19
19
Paragraph: 103
We recognise that the subsequent level of interest from the BEIS Department about the accreditation...
Conclusion
We recognise that the subsequent level of interest from the BEIS Department about the accreditation of Greensill Capital was “unusual” but we are confident that this did not impact the approval process and the British Business Bank’s decision remained independent. Given the potential impact of the financial position of Greensill Capital on Liberty Steel’s UK operations, we acknowledge the due diligence of both the Secretary of State and his officials in monitoring the accreditation process closely was entirely proper.
Paragraph Reference:
103
Government Response
Not Addressed
HM Government
Not Addressed
33. We welcome the Committee’s acknowledgment that BEIS acted properly in this matter, and that the British Business Bank rightly operated independently and made decisions in accordance with its own procedures and practices.