Forgemasters cash questions

BUSINESS Secretary Vince Cable is to be questioned by MPs over the Government’s decision to axe an 80m loan to Sheffield Forgemasters.

The issue has been reignited after MPs said they were not satisfied by his answers on the issue in a letter to the Commons Business, Innovations and Skills Select Committee.

The committee will quiz Mr Cable next month as Labour continues to target the coalition over the scrapping of the loan.

Leeds West MP Rachel Reeves, a member of the committee, said: “The reply we received from Vince Cable throws up more questions than it answers. Will the Government consider a fresh application? Do they see value in the work Sheffield Forgemasters do?”

Yesterday Deputy Prime Minister Nick Clegg, MP for Sheffield Hallam, was challenged again in the Commons about the decision to pull the loan, which Ministers say was not affordable.