In reply to summo:
> Why didn't forge masters securing private investment? From a group, or bank etc.
Presumably because the return on investment is so heavily tied to the government's stance on nuclear. It's a very specialised industry creating a very limited number of vessels per year worldwide (maybe 5-10 units in total). If the UK doesn't build a rolling programme of nuclear plants, Forgemasters investment is destined to fail. Hinkley C vessels are now being built in Korea (i think).
It's a similar situation to BAE Systems at Barrow-in-Furness. Private business, but totally dependant on the government decisions on Trident 2. It only works as private business because the government commit to a 20+year plan to build subs.
So, what's the difference? Sheffield was a Labour/LibDem marginal. Barrow is Con/Lab marginal.
In the scheme of things, the £80m to forgemasters was peanuts. The UK government spend about £100m with BAE Systems every week!