Campaigners outside Sheffield Town Hall
A major engineering firm based in Sheffield has been declined an £80m loan to make steel presses by the coalition government. A petition has been launched today in response to the government’s decision.
The loan would have allowed the firm to expand, creating over 180 jobs and increasing industry in the city. The previous government had pledged the cash to Forgemasters, so the company could build parts for nuclear power stations.
This would enable Britain to prepare towards building a new generation of nuclear power stations, as well as increasing manufacture in Sheffield.
The coalition government has been reviewing the Labour government’s spending decisions.
Today Paul Blomfield, the MP for Sheffield central, launched a petition against the government’s decision to scrap the loan.
He said, “People are very angry about the Forgemasters loan being scrapped and the huge amount of support we got today reflects that.”
Clive Betts, the MP for Sheffield South East commented, “Scrapping the loan to Forgemasters is madness and people in Sheffield know that.
“The loan would have created jobs and the Government would have got the money back with interest.”
The petition has received approximately 1300 signatures today. The petition will be available to sign every day next week outside Sheffield town hall.
In a statement Deputy Prime Minister Nick Clegg has said he regretted that the government “cannot afford to support the expansion.”
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