What is about industry that the Tories hate so much? Having laid to waste huge swathes of our manufacturing inheritance during their rule in the 1980s, they’re at it again. The Tories have pulled the plug on an £80m loan to Sheffield Forgemasters. Economically, this decision is stupid. It puts at risk our participation in one of the growth industries that would pull us out of recession. This is ideologically driven vindictiveness and the Tories no longer pretend otherwise. David Willetts the Tory minister for Universities was quite blatant on the BBC’s Politics show yesterday:
“Now I realise it’s tough for individuals businesses, but I do think that Sheffield Forgemasters’ role is a very important one in Sheffield manufacturing, but its role should not be determined by borrowing money from government.”
David Willetts BBC Politics Show 21st June 2010
We are on the brink of an economic depression and Willetts believes that the Government should be adopting a laissez faire approach; let the market look after things. Quite clearly the man is a pillock!
But he is a comfortably-off pillock….