Cancellation of loan to Sheffield Forgemasters 'a colossal error of
judgement'
17 June 2010
Unite, Britain's biggest union, has today branded the decision
to cancel 12 projects totalling £2 billion including an £80 million
loan to Sheffield Forgemasters “a colossal error of judgement.”
Derek Simpson, Unite joint general secretary, said: "The
Con-Dems’ decision not to support companies like Sheffield
Forgemasters is a colossal error of judgement. It is short-sighted
and will leave Britain's manufacturing sector trailing behind its
competitors.
“There is only one other manufacturer in the world which builds
the forgings that Sheffield Forgemasters produces.
“This is an appalling decision because it denies UK
manufacturing the opportunity to become a supplier on a global
scale . Every other country in Europe sees the value in supporting
its industries and jobs.
“This is a kick in the teeth to the community in Sheffield.
During the election campaign Nick Clegg was keen to vow extra
support to areas like Sheffield, but now the Con-Dem government has
turned its backs on this local business.
“We are urging the Treasury to reconsider this decision if it
wants to nurture Britain's skilled manufacturing base.”
ENDS
Contact: Ciaran Naidoo on 07768 931 315
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