British Coal Staff Superannuation Scheme Debate
Full Debate: Read Full DebateElaine Stewart
Main Page: Elaine Stewart (Labour - Ayr, Carrick and Cumnock)Department Debates - View all Elaine Stewart's debates with the Department for Business and Trade
(3 days, 15 hours ago)
Commons ChamberIf the hon. Member shows a little patience, he will hear me move on to that later.
The previous Labour manifesto stated that the reserve funds of both the MPS and the BCSSS would be released to members, yet the BCSSS was omitted from Labour’s manifesto in 2024. Maybe the Minister can explain why that was. She may be aware—obviously the hon. Member for Mansfield (Steve Yemm) is not aware of this—that during the last Parliament, I continually pressed the Government for a fairer deal on the MPS, and I was knocked back at every single opportunity. Credit where credit is due, this Labour Government have stuck by their word, and the members of the mineworkers’ pension scheme are a lot better off under this Labour Government due to the extra money in their pay packet.
Time is of the essence. While colleagues across the House may differ on these issues, we represent constituents who continue to suffer from the historic injustice created by the hon. Member’s former Tory Government. Thousands of miners have died without justice, with 2,000 passing every year. This is about fairness, and the Government have acted, but does he agree that they are right to resolve this swiftly so that no more families wait in vain for their money?
I think that the hon. Member is getting a little confused; she probably needs a history lesson. There was a Labour Government for 13 years from the ’90s that could have put this right—it works both ways. It is unfair to blame just the Conservative Government; I would blame both Governments.
To go back to the surplus from the MPS, I thank the Labour Government for giving the mineworkers their much deserved reserve fund, but I gently remind them that they should act to implement the full findings of the Business, Energy and Industrial Strategy Committee’s 2021 report. By the way, that is Reform UK’s policy.
Sue Edwards from Ashfield is a BCSSS pensioner who has asked me to keep pushing on this issue. She said that although women members never worked underground, their contribution should never be forgotten. Sue is right: we should never forget the contribution made by women at our collieries.
There are about 800 members of the BCSSS in Ashfield. One of them is Paddy Gumley, who will be watching the debate right now. He sent me an email yesterday, which said:
“Dear Lee,
Thank you for your email regarding the forthcoming debate on the BCSSS…We will watch out to ensure that the Treasury give sensible answers to your questions…and hopefully…will…bring this matter to a satisfactory conclusion. We are quite happy for you to use our names should you think it necessary. Again, I wish to advise you that I am now over 80 years old and have recently been treated for cancer, so time…is of the essence.”
I think we all know what Paddy means: in plain English, “Please give me my money before I die.”
None of us is getting any younger, and transferring the investment fund now to members would allow pensioners to live a more dignified life in their final years. It would also put tens of millions of pounds back into local coalfield communities, helping local shops and businesses prosper. Let us not forget that if these pensioners get this extra money, they will be taxed on that extra revenue, which will go back to the Exchequer.
The trustees have two simple requests: the return of the £2.3 billion investment reserve to the members as soon as possible this year, and a commitment to review how any future surplus will be shared out after the investment reserve is returned. I have yet to find a coalfield MP who does not agree with those simple requests. Most coalfields are now represented by Labour MPs, and I am really hopeful that in the four years they will still be here, they will put pressure on the Treasury and the Government to provide justice for members of the BCSSS.