One thing has puzzled me about this whole affair. If the investment in machinery was such a good commercial idea, why can't Forgemasters obtain a commercial loan or issue bonds to obtain the necessary funds? If it was not a commercially sound idea, what was the motive of the previous Labour Government in proposing the loan facility? The unelected Business Secretary of the previous government seems to be quite vocal in protesting the cancellation of the loan he granted.
Why should the current government borrow money to give Forgemasters a loan?
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