£2bn of projects scrapped by the Government

18.06.2010

As part of the plans to reduce the budget deficit of around £155bn, the government has announced that they have plans to cancel or suspend £2bn of projects.

The chief secretary to the treasury, Danny Alexander has said that the steps are necessary to tackle the country’s financial problems. He told MPs that ministers had embarked on a "pre-election spending spree in the full knowledge that the government had long since run out of money".

Amongst the cancelled projects is the £80mn loan to Sheffield Forgemasters to develop a manufacturing facility to support a new nuclear supply chain.     

To read the full article visit the ePolitix website.