Unite: Cancellation of loan to Sheffield Forgemasters ‘a colossal error of judgement’

Unite, Britain’s biggest union has today branded the decision to cancel 12 projects totalling £2bn including a £80 million loan to Sheffield Forgemasters “a colossal error of judgement.”
Derek Simpson, Unite’s joint general secretary said: “The ConDems 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.
“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. There is only one other manufacturer in the world which builds the forgings that Sheffield Forgemasters produces.
“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 ConDems have turned their 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