Mineworkers’ Pension Scheme

Debate between Stephanie Peacock and William Cash

Thursday 14th February 2019 Commons Chamber

[Stephanie Peacock]

I thank my right hon. Friend for that intervention. I know he has championed this issue over many years. I have indeed spoken to the trustees, and they are in agreement that we need to look at this again.

[Sir William Cash (Stone) (Con)]

I would simply like to say, first, that I hope the hon. Lady gets a review out of this debate, at the very least; and secondly, that I have always supported the mineworkers, since the closing of the pits by Michael Heseltine. It was a long time ago, but the bottom line is that the miners deserve to be looked after properly.

[Stephanie Peacock]

I thank the hon. Gentleman for that contribution. I am pleased that we have cross-party support today. It is very welcome.

The risk undertaken by the Government in guaranteeing the pensions no longer justifies the price paid by the miners for that assurance. The membership of the scheme alone has decreased substantially over the decades since the deal was struck. In 2006, there were 280,000 members; now, there are 160,000. The Government’s financial risk in their role as guarantor of the pensions is in permanent decline, yet in essence they are still charging miners the same price that they charged 25 years ago.