Mineworkers’ Pension Scheme

Jim Cunningham Excerpts

Thursday 14th February 2019 Commons Chamber

[Stephanie Peacock]

I thank my right hon. Friend for her comments. She is absolutely right, and I will come on to talk about that in a moment. She talks about when the agreement was set up. The Minister admitted to me, in response to a written question asking what actuarial advice was taken, that

“no such advice was obtained”.

Can we consider that for a moment, Madam Deputy Speaker? This arrangement was put in place with no expert advice. It is little wonder that the initial prediction proved woefully inaccurate and the surplus has been substantially more than anticipated—and it shows.

The sheer amount of money that has been taken out by the Government since 1994 without returning a single penny is staggering. The Treasury has pocketed £4.4 billion since 1994.

[Mr Jim Cunningham (Coventry South) (Lab)]

I thank my hon. Friend for giving way, and I am sure many ex-miners in Coventry—we used to have two collieries—will be very grateful to her for securing this debate and for trying put some wrongs right. I am sure they will appreciate that very much, because a lot of them suffer from silicosis and other diseases. She is doing a great service to the miners.

[Stephanie Peacock]

I thank my hon. Friend. He is absolutely right that a lot of former miners are taking a great interest in this debate, not least because the Government have taken £617 million this year alone, on top of £102 million over the past two years. As if that was not already enough, they plan to take another £427 million over the next three years.