PM launches drive for Britain PLC

Unveiling his "commercial foreign policy" in New York before meeting US businessmen on Wall Street, Mr Cameron declared he wanted to "refashion the Foreign Office to make us much more focused on the commercial aspects and making sure Britain is open for business."

The multi-millionaire Tory leader, who continues to draw a £142,000 salary from public funds, insisted that "we have got to pay our way in the world, and I want the Foreign Office to be much more commercially minded."

Mr Cameron's drive to corporatise Britain's foreign policy in search of profits clears the way for equally wealthy businessmen to be appointed to ambassadorships throughout the world and use the plush residences that come with the office to lobby foreign governments and firms for deals.

Donations to the Tory Party's coffers from company executives and business leaders helped the Conservatives bank a colossal £13,777,000 in just the first six months of this year and Mr Cameron's move to "commercial diplomacy" will allow him to justify appointing his supporters to key posts.

The declaration also comes on top of Secretary of International Development Andrew Mitchell exposing the coalition's priorities by demanding a huge cut in the amount of desperately needed humanitarian aid that Britain sends to more than 90 countries.