The forgemaster loan

  john 52 19:22 22 Oct 10
Locked

In light of the foreign aid which has been given to Zimbabwe (£67 million )and almost 3.7 billion in total aid should the coalition government have gone ahead with the 80 million loan to Forgemaster .
I understand that the parts required for the new nuclear power stations will now be sourced from the Far East which to me seems a shame that British workers could not benefit from these large scale nuclear building projects and would have placed the company at the forefront of civil nuclear manufacturing to supply other countries .




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  natdoor 19:46 22 Oct 10

Whilst I accept that there are limits in governmental help for industries under EU regulations, I find it inconceivable that this would not have been considered when the loan was promised. In the context of government spending and the announced support for "green industries", the sum of £80 million is trivial. It seems to me that this is precisely the sort of activity that should be encouraged at times like these. In fact, I was amazed that Osborne did not reverse the decision in his statement.

  john 52 19:54 22 Oct 10

Forgemaster is one of only two companies in the world that make the specialised large forgings for the nuclear industry. The other is in the far east, you can only imagine the mixture of bemusement and glee with which it was greeted in the Far East.

  Strawballs 20:59 23 Oct 10

Because the company is not in the square mile of London or abroad that is why this Government won't help.

  spider9 22:20 23 Oct 10

..and it was a loan, not a grant, so it would have been repaid. Unbelievable.

  onionskin 22:24 23 Oct 10

It's almost unbelievable that there is no bribery or corruption involved in the decision.

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