Comments on: The Coalition government has no coherent strategy for growth, argues Rachel Reeves http://labour-uncut.co.uk/2010/07/21/the-coalition-government-has-no-coherent-strategy-for-growth-argues-rachel-reeves/ Inside Labour Politics Tue, 22 May 2012 15:26:43 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Tilly T http://labour-uncut.co.uk/2010/07/21/the-coalition-government-has-no-coherent-strategy-for-growth-argues-rachel-reeves/comment-page-1/#comment-3690 Tilly T Thu, 22 Jul 2010 16:12:55 +0000 http://labour-uncut.co.uk/?p=1906#comment-3690 The total lack of any realstrategy for growth is truely terrifying. The cuts were to be expected, and will be devistating when they come, but I must say I was expecting a lot more in terms of initatives for growth. The total lack of any realstrategy for growth is truely terrifying. The cuts were to be expected, and will be devistating when they come, but I must say I was expecting a lot more in terms of initatives for growth.

]]> By: Richard Nabavi http://labour-uncut.co.uk/2010/07/21/the-coalition-government-has-no-coherent-strategy-for-growth-argues-rachel-reeves/comment-page-1/#comment-3661 Richard Nabavi Thu, 22 Jul 2010 09:13:31 +0000 http://labour-uncut.co.uk/?p=1906#comment-3661 "Previously, MPs had been told that the government cancelled the loan to the company on the basis that it was inappropriate when the directors could instead have raised the money by diluting their shareholding. Today, we learnt from a private letter from the Deputy Prime Minster to the Chief Executive of Forgemasters, that the company were in fact prepared to do this." So why didn't they do so? Although the City's preeminence is under threat because of some very stupid decisions made by the last government (notably on ceding control of regulation to our competitors), it still remains the case that Britian has the largest. most diverse, and most dynamic financial sector in Europe. The City of London is the principal centre in Europe for raising finance. As well as dozens of commercial banks, we have a huge variety of funds specialising in all aspects of company finance, from venture capital through mezzanine finance to ordinary commercial loans. Has the Business, Innovation and Skills Select Committee ascertained why Sheffield Forgemasters were unable to raise the finance they needed from one of these many different sources? “Previously, MPs had been told that the government cancelled the loan to the company on the basis that it was inappropriate when the directors could instead have raised the money by diluting their shareholding. Today, we learnt from a private letter from the Deputy Prime Minster to the Chief Executive of Forgemasters, that the company were in fact prepared to do this.”

So why didn’t they do so?

Although the City’s preeminence is under threat because of some very stupid decisions made by the last government (notably on ceding control of regulation to our competitors), it still remains the case that Britian has the largest. most diverse, and most dynamic financial sector in Europe. The City of London is the principal centre in Europe for raising finance. As well as dozens of commercial banks, we have a huge variety of funds specialising in all aspects of company finance, from venture capital through mezzanine finance to ordinary commercial loans.

Has the Business, Innovation and Skills Select Committee ascertained why Sheffield Forgemasters were unable to raise the finance they needed from one of these many different sources?

]]> By: Tweets that mention The Coalition government has no coherent strategy for growth, argues Rachel Reeves « Labour Uncut -- Topsy.com http://labour-uncut.co.uk/2010/07/21/the-coalition-government-has-no-coherent-strategy-for-growth-argues-rachel-reeves/comment-page-1/#comment-3637 Tweets that mention The Coalition government has no coherent strategy for growth, argues Rachel Reeves « Labour Uncut -- Topsy.com Wed, 21 Jul 2010 16:10:55 +0000 http://labour-uncut.co.uk/?p=1906#comment-3637 [...] This post was mentioned on Twitter by Claire Spencer and Labour Uncut, Labour Uncut. Labour Uncut said: The Coalition have no coherent strategy for growth - http://bit.ly/bw5H6m [...] [...] This post was mentioned on Twitter by Claire Spencer and Labour Uncut, Labour Uncut. Labour Uncut said: The Coalition have no coherent strategy for growth – http://bit.ly/bw5H6m [...]

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