Amendment of the Law

Debate between Jim Cunningham and Ronnie Campbell

Monday 23rd March 2015 Commons Chamber

[Mr Campbell]

I apologise, Mr Deputy Speaker.

What have we got? We have the pension provisions. Okay, that is those people’s money and I suppose they are entitled to it, but I can tell Members what happened a few years ago when the miners were given the chance to pull their pensions out of the national mineworkers’ pension fund. I was chairman of the local branch at the time, not an MP, and I remember the spivs coming in big style. We had nothing to do with them, but they had meetings in social clubs and pubs and brought all the lads in. The Major Government said at the time that people could take their pension then as long as they got a better deal, the lads thought that they were getting a better deal and, of course, the spivs and speculators all came in. The lads all gave up their pension, saying that they were going to get a better deal, but within a year to 18 months they had to come back into the pension scheme.

That was a scandal waiting to happen, because there was no advice at all. The miners were finished—it was after the miners’ strike—and we told them to keep their pension where it was, but of course the spivs were telling them how wonderful their options were.

[Mr Jim Cunningham]

I remember exactly what my hon. Friend is talking about. Under the Thatcher Government, people were encouraged to come out of the state earnings-related pension scheme and to go into private pension schemes. I remember Rolls-Royce spending a lot of money encouraging people to do that, and look at how that ended up.

[Mr Campbell]

It nearly ended up in a scandal. The Government opened up the mineworkers’ pension scheme again so that people could bring their money out of the schemes they had been conned into joining. A lot of miners lost a lot of money, so the warning is there. As has been mentioned in many speeches today, the Government must be very careful that they do not fool the people.

I want to mention the national health service, because 65% of new contracts in the NHS have gone to private companies. I do not know what will happen if the Tories are elected at the next election, but I can tell Members one thing: in five years 65% of contracts in the NHS have become private and that is a disaster waiting to happen. I think that the Tories are waiting for 100% private contracts in the national health service, so that it is totally privatised. The Labour party is prepared to put in at least 5,000 more doctors and 20,000 more nurses, and I hope that that is a reality and that we can afford to pay for it.

I have to mention the banks, as they cost the taxpayers of this country a lot of money over five years. It is time that we started taking a lot more money off the banks than we are taking now. They owe the taxpayers of this country big time and we should increase the levy and say that they should pay the money back. We should not have bailed them out in the first place.