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National Policy Statements

My hon. Friend makes a very important point. In the months just before the election an enormous number of commitments were made, and one of the first things that we had to do as an incoming Government was to identify which of them were affordable. We went through that process extremely thoroughly—I think we have been robust about it—and Sheffield Forgemasters entirely understands the decisions that we have made. The Department for Business, Innovation and Skills leads on supporting businesses in these areas and my Department feeds closely into that process. We want Sheffield Forgemasters, which is an outstanding example of a British manufacturing company, to have a key role to play in the future. However, on the basis that I have outlined, we did not believe it was appropriate for the loan to go ahead.