Sheffield Forgemasters

Chris Ruane Excerpts

Wednesday 21st July 2010 Commons Chamber

[Mr Prisk]

No, because it is important that I try to answer some of the other questions that were raised and I have only five minutes left. The hon. Gentleman asked some eminently sensible questions and I want to try to give him the answers.

[Chris Ruane (Vale of Clwyd) (Lab)]

What about the letter?

[Mr Prisk]

I will come to the letter in a moment.

The hon. Member for Sheffield South East asked me what affordability actually means. There seems to be some confusion about this on the part of Labour Members. Financing a loan of this nature needed £80 million more debt to be issued. That would have meant £80 million more debt on the Government’s books this year. So to claim that somehow this loan would not be as challenging as all that or would not really represent debt on the books of the Government is not correct. The reality is that by taking on that commitment we would have been adding to the enormous debt, regardless of the nature of the assets it financed.

I turn now to the question of the letter and the background to it, which Labour Members appear to be more interested in than the question of the company—[Interruption.] I exclude the local Sheffield Members, but their colleagues appear to be more concerned about the party politics. Local Members have made representation to the Department by means of a freedom of information inquiry. They put their letters forward. On seeing those I ensured that their requests were answered, so that they received all the information this evening for this debate. That is an important point, because one of the accusations against us is that somehow we are not being transparent. In making sure that those hon. Members who tabled freedom of information requests received the information for this debate, we are being—let me be crystal clear on this point—absolutely transparent on this matter.