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The Business, Innovation and Skills Select Committee, with a Government majority, today specifically rejects justifications put forward by Nick Clegg, the Deputy Prime Minister, for failing to support a leading British manufacturing company based in his home city.

Speaking following publication of the Report, Labour Industry Spokesman, Ian Lucas MP called on the Deputy Prime Minister to explain himself to the House of Commons:

“This report is a humiliation for Nick Clegg, exposing that the arguments he put forward for withdrawing the Sheffield Forgemasters loan were simply not true.

“Nick Clegg needs to come clean and tell us why he failed to support a leading UK manufacturer based in his home city and why he put forward false arguments to justify his decision.

“The decision to withdraw the Sheffield Forgemasters loan was a massive missed opportunity to help develop British manufacturing. It is proof positive that this Government has no strategy for growth.”

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