Sheffield Forgemasters
Debate between Baroness Wilcox and Lord Brookman
Baroness Wilcox
Absolutely not. Our decision not to proceed with the loan was a matter of affordability and that only. The shareholder structure of SFIL did not influence any assessment. I have no knowledge of any privy discussions between the Prime Minister and the Deputy Prime Minister. The Government’s decision has absolutely nothing to do with this issue. We regard Mr Honeyman and his team as having produced an excellent project with no criticism of him or of the company. Perhaps the Opposition should apologise for the necessity of cuts based on the state of the economy that we inherited.
Lord Brookman
My Lords, I declare an interest as the ex-leader of the trade union that represents most of the workers at Sheffield Forgemasters. The Minister is aware—it has already been stated by my noble friend—that this was a loan, not a grant. Therefore, it is difficult to understand the attitude of the coalition Government. As my noble friend said, two companies make this product for the nuclear industry: Sheffield Forgemasters and a plant in Korea. Is it not the case that this loan should be provided to save jobs in the community in Sheffield and to help manufacturing?
Baroness Wilcox
There is no doubt about it: I shall have to answer again and again that this decision was taken on grounds of affordability. Nobody would argue that Sheffield Forgemasters is not an excellent example of a successful British manufacturing company. The Government wholeheartedly support what the company does and I place on the record our recognition of its excellent work. Once again, I tell noble Lords that the only reason why we took the decision was affordability and we had to take that decision because of the condition that the previous Government left us in financially.