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Meg Munn MP - Sheffield Heeley's voice in Parliament | Welcome
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The Day that sent Sheffield reeling

Monday, June 21, 2010

Sheffield has been hit hard by the government decision to cancel the loan for Sheffield Forgemasters. This was shown by the response of the public on Saturday when over 1300 people signed our petition to Nick Clegg asking that this disastrous decision be re-considered. That’s over 7 people signing a minute.

 

No-one can understand the logic of this decision; putting at risk substantial investment in a new engineering facility. This would have included 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 expected that up to 400 highly skilled and highly paid jobs would have been created in Sheffield and more elsewhere in the nuclear energy supply chain.

 

And it was a loan with a 3.5% interest rate; a loan that would invest in the future and bring money back to the Treasury. The government decision is not only lost jobs, but means greater costs in the future when we have to import these super large forgings as we build new energy plants. The Chief Secretary to the Treasury said that the Coalition Agreement will ensure that there will be no public subsidy of the nuclear industry. Is this cut the first manifestation of that policy?

 

Please give your support to our petition and tell the Coalition to think again.

 

http://iwc2.labouronline.org/164931/forgemasters-petition

 

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