Clegg reconsiders Forgemasters loan
The decision not to loan money to Sheffield Forgemasters could be revisited, it has emerged. The coalition government cancelled a £80m loan to Forgemasters to build parts for nuclear power stations as part of its spending review in June.
Now, deputy prime minister and Sheffield Hallam MP Nick Clegg is reportedly thinking of looking again at the project.
He is reported as saying: "I would dearly like to see us support it if we can. If Forgemasters want to return to a project like that, and if it works, and if we can do it, then we stand ready to try and revisit this and provide help."
Clegg said the project had been unaffordable due to budget cutbacks and hit back at the way the previous Labour administration had promised the money.
The Department for Business, Innovation and Skills (BIS) has said that Forgemasters can apply for a share of the Regional Growth Fund.
