Sheffield Forgemasters

Pat McFadden Excerpts

Wednesday 21st July 2010 Commons Chamber

[Mr Prisk]

Of course I saw the letter, because it was emailed to me. As I have made clear, it was apparent from the letter that this was a business man who had knowledge of Sheffield and the industry and was making various representations. My view was that that should go to the officials. It went to the officials and the answer that came back was “We have noted your letter, Mr Cook.” That was it. There has been no further—[Interruption.] The reply is included in the replies that I have given to the local Members. It is clear—[Interruption.] No, I am sorry, but that is wrong.

The other question that has been raised by several hon. Members is the issue of the dilution of equity. I set out the situation clearly in my remarks earlier. The Government’s decision had nothing to do with the shareholder structure. In my view, Dr Honeyman and his team deserve credit for putting this together—

[Mr Pat McFadden (Wolverhampton South East) (Lab)]

If the Minister says tonight that this decision had nothing to do with the directors’ shareholdings, why did the Prime Minister and Deputy Prime Minister allege that that was the case as justification for this decision?

[Mr Prisk]

The right hon. Gentleman usually makes intelligent contributions, but that was just part of the knockabout nonsense—[Interruption.] This has always been, as my colleagues and I have made clear, an issue of affordability. That is the crucial point in this debate.