Sheffield Forgemasters

Lord Foulkes of Cumnock Excerpts

Thursday 22nd July 2010 Lords Chamber

[Baroness Wilcox]

Of course I agree with my noble friend. I say again that Sheffield Forgemasters is an excellent example of a successful British manufacturing company and will, I am sure, continue to be so for a long time to come.

[Lord Foulkes of Cumnock]

The Minister must agree that the decision to cancel this loan—after all, it was a loan, not a grant—is inexplicable until one realises that it follows a letter to the Government from Mr Andrew Cook, a major Conservative Party donor, who owns two forges in Sheffield. Surely that cannot be a coincidence, can it?

[Baroness Wilcox]

I assure the noble Lord that the representation from Mr Cook—copies were sent to Clive Betts MP and Angela Smith MP in another place yesterday on their request and will be placed on the BIS website today—had no bearing on the decision-making process. The decision not to pursue the loan was made on grounds of affordability.