Last night, Parliament debated the Mineworkers Pensions Scheme, and I made the case for revisiting the arrangements so that former Miners can keep more money in their pockets. Money that would be returned to our coalfield community.
The Government guarantee in the scheme has allowed the Trustees to be able to invest without risk, and so they've made huge profits which have been shared. That guarantee is important. However now the risk to Government is drastically reduced, and the Treasury has received more income from the scheme than it ever imagined. The Mineworkers should be able to keep a much higher proportion of those profits.