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Forgemasters uncertainty continues
BUSINESS Secretary Vince Cable has rebuffed calls to end the "damaging uncertainty" which hangs over ambitious plans to transform Sheffield Forgemasters.
During a Commons debate, Mr Cable declined to say whether the Government will approve a 80m loan to turn the firm into a world leader in manufacturing nuclear power station components by paying for a giant new forging press.
However, he did announce he was approving loan guarantees worth over 600m for car manufacturers.
PM David Cameron told the Commons "projects that are good value for money" will go ahead.
But he accused Labour of splashing around investment money for "political reasons" before the election.
Sheffield Brightside MP David Blunkett told The Star: "There is a real danger that the decision to pull the plug on the investment in Forgemasters - and the jobs, creativity and world trade that go with the government loan - will be hidden away in next Tuesday's budget."
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Weather for Sheffield
Saturday 26 May 2012
Today
Sunny
Temperature: 9 C to 21 C
Wind Speed: 17 mph
Wind direction: East
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Temperature: 11 C to 21 C
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