Government has cancelled the £80m loan set aside by the Labour government for a 15,000 tonne press as part of £8.5bn worth of spending cuts.
Recently appointed Chief Treasury Secretary David Alexander announced this morning that the loan is to be scrapped along with a host of other projects, including the Future Jobs Fund (£290m), the continuation of a scheme which offers young people guaranteed training or a job after six months unemployed (£450m), £7bn worth of search and rescue…
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