Jewellery has been hallmarked in Sheffield since 1773
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A Euro MP says she is confident the campaign to save the Assay Office in Sheffield will be successful.
Labour member Linda McAvan has been fighting the EU Directive on Precious Metals which would have scrapped hallmarking and replaced it with random post-sale checks on the quality of jewellery.
The move was put forward by Italy but it is unlikely the new law can be passed before six-month Italian presidency of the EU ends next month, meaning it will probably be shelved.
Ms McAvan argued that jobs would have been under threat in Sheffield and at the other British Assay offices in London, Birmingham and Edinburgh.
Consumer protection
Under the proposed directive, designed to open up the jewellery market, manufacturers would have been responsible for their own hallmarking.
But Ms McAvan argued there was no support in the UK for changing a system that she claims has worked well for over 700 years.
She said: "My concern from the outset was that the draft directive would mean less protection for consumers and threaten the 40,000 people employed either directly or indirectly in the precious metals industry."
The Sheffield Assay Office was established in 1773. Before that local craftsmen had to send their goods to London to be hallmarked.
The present offices are in Portobello Street in the city centre.