mj.scuba Posted February 17, 2011 Share Posted February 17, 2011 Were the other loans also binding? The reason the SF loan agreement was not binding was probably because nobody would have dreamed that the project would be sabotaged by our own UK Govt. I have a loan with my bank. I had to sign a loan agreement before I got the funds. I certainly wouldn't expect the government to lend out £80m without having some kind of contract in place. The question is why did Labour not give the loan before the election, and sign some sort of agreement making it binding? It's no good shifting that question onto the coalition, Labour had ample time to do it, and as I pointed out, they had no qualms signing off some big spends just before the election. They'd been working on it for two years apparently as you say, seems highly strange that they would let an election pass without signing something they'd been working towards for half the previous parliament, unless of course, they knew they didn't have £80m, and wanted to set the new lot up for a fall. Link to comment Share on other sites More sharing options...
Uptowngirl Posted February 17, 2011 Share Posted February 17, 2011 Wrong. Forgemasters had been working with the then Govt. on the project for a couple of years of years before the announcement. I've seen no evidence of that, and even if it were true no evidence that money would have been available had it not been a convenient local eye catcher when Labour thought they would lose an election. I suppose the problem is that after playing the same record so many times folks get sick of it, and I do find myself simply dismissing everything that you post simply because it is simply biased towards a political viewpoint in every instance. As eastbank says the next election is scheduled for 2015, and after reading another couple of hundred of these threads in the meantime I just wonder if you will have anything fresh to say that won't simply be dismissed as propoganda. Link to comment Share on other sites More sharing options...
espadrille Posted February 17, 2011 Share Posted February 17, 2011 I have a loan with my bank. I had to sign a loan agreement before I got the funds. I certainly wouldn't expect the government to lend out £80m without having some kind of contract in place. The question is why did Labour not give the loan before the election, and sign some sort of agreement making it binding? It's no good shifting that question onto the coalition, Labour had ample time to do it, and as I pointed out, they had no qualms signing off some big spends just before the election. They'd been working on it for two years apparently as you say, seems highly strange that they would let an election pass without signing something they'd been working towards for half the previous parliament, unless of course, they knew they didn't have £80m, and wanted to set the new lot up for a fall. Just Mandelson working his magic as usual. Link to comment Share on other sites More sharing options...
alchresearch Posted February 17, 2011 Share Posted February 17, 2011 Lets also not forget the rival forging companies in Germany and Japan - who were already completed or nearing completion. If you were a nuclear plant builder and needed components, would you get them from: A) Japan, who's plant is ready to produce what you need? B) Germany, a country renowned for engineering excellence, who's plant is almost complete? Or C) England, who don't have the facilities yet, and has lost out to foreign rivals for so many steel products in the past and barely make anything any more? Link to comment Share on other sites More sharing options...
Uptowngirl Posted February 17, 2011 Share Posted February 17, 2011 Lets also not forget the rival forging companies in Germany and Japan - who were already completed or nearing completion. If you were a nuclear plant builder and needed components, would you get them from: A) Japan, who's plant is ready to produce what you need? B) Germany, a country renowned for engineering excellence, who's plant is almost complete? Or C) England, who don't have the facilities yet, and has lost out to foreign rivals for so many steel products in the past and barely make anything any more? Lessons learned from Nimrod I suspect. Link to comment Share on other sites More sharing options...
atticus Posted February 17, 2011 Share Posted February 17, 2011 This government is increasing the foreign aid budget by 37% to £12bn a year,yet it hasn't got £80m to loan to a british company to create british jobs.....dont make me laugh. Link to comment Share on other sites More sharing options...
Uptowngirl Posted February 17, 2011 Share Posted February 17, 2011 This government is increasing the foreign aid budget by 37% to £12bn a year,yet it hasn't got £80m to loan to a british company to create british jobs.....dont make me laugh. Don't banks make loans to industry? It isn't up to governments to make loans to individual companies, particularly as that would disadvantage every one of that companies competitors. But it's odd how the government had a massive stake holding in several British banks but didn't lean on them to loan the money to Forgemasters. Link to comment Share on other sites More sharing options...
atticus Posted February 17, 2011 Share Posted February 17, 2011 Don't banks make loans to industry? It isn't up to governments to make loans to individual companies, particularly as that would disadvantage every one of that companies competitors. But it's odd how the government had a massive stake holding in several British banks but didn't lean on them to loan the money to Forgemasters. Imagine any company walking in to a bank and asking for £80m 2 years ago,the bank manager would have died laughing.It was impossible to get a £50k mortgage. Link to comment Share on other sites More sharing options...
alchresearch Posted February 17, 2011 Share Posted February 17, 2011 Interesting story about Labour's PFI legacy here: http://www.dailymail.co.uk/news/article-1357403/George-Osborne-orders-squeeze-Labours-controversial-funding-scheme-schools-hospitals.html I can speak from experience at knowing how public places are at their mercy and tied in to overcharging suppliers. Link to comment Share on other sites More sharing options...
atticus Posted February 17, 2011 Share Posted February 17, 2011 Interesting story about Labour's PFI legacy here: http://www.dailymail.co.uk/news/article-1357403/George-Osborne-orders-squeeze-Labours-controversial-funding-scheme-schools-hospitals.html I can speak from experience at knowing how public places are at their mercy and tied in to overcharging suppliers. Lets hope that Sheffield Council's highways PFI doesn't go ahead then.It could end up costing us an arm and a leg over the next 25 years. Link to comment Share on other sites More sharing options...
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