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Meg Munn MP - Sheffield Heeley's voice in Parliament | Welcome
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Sheffield hit by government cuts

Friday, June 18, 2010

The city has been deeply hit by government cuts announced yesterday to three important projects. The axe has fallen on the following:

  • 80 million loan for Sheffield Forgemasters,
  • 12 million to help the city centre Sevenstone retail scheme, and
  • 13 million to turn unused steel mills into a business park. 

The loan for Sheffield Forgemasters was to help the company invest in a new engineering facility, including a massive 15 ton press that would propel the company into being one of only two companies in the world capable of making super large forgings. The company hoped up to 400 highly skilled and highly paid jobs would have been created. The whole project is now in doubt as private financing is unlikely to be available.

 

The Sevenstone retail scheme for the city centre has been delayed by the effects of the international financial crisis which has restricted the ability of developers to access funds for construction. The grant was to help buy properties on the site before compulsory purchase orders expire next year, any delay may make the whole development fall apart.

 

The grant to turn unused steel mills into a business park has now been refused leaving the city with disused and decaying buildings. The area has been disused for over five years and will only decay further.

 

Meg said of the cuts: 


“This is a bad day for the city. The action by the Liberal-Conservative government will hit Sheffield hard.  


They have denied the city an advanced manufacturing plant and the associated well skilled and well paid jobs and have put a question mark against the re-development of our city centre.”       


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