Ed Miliband pays tribute to ‘persistent, dogged and determined’ miners following pension promise
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During this week’s budget announcement, Chancellor Rachel Reeves revealed that the entirety of the Mineworkers’ Pension Scheme would be handed over to ex-coalminers and their families.
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Hide AdWhen British Coal was privatised in 1994, the government agreed to take half of the profits from the miners’ pension scheme
This agreement was made between the Conservative government at the time and the scheme’s trustees, in exchange for a guarantee that the value of mineworkers’ pensions would not decrease.
However, campaigners have long argued that this deal was unfair to former miners and their families. Since 1994, the government has received £4.8 billion from the pension scheme. Now, the fund, which is worth £1.5 billion, will be handed back to the pension scheme, ensuring that former coalminers, who worked hard for many years, will finally receive the fair rewards they deserve.
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Hide AdAround 112,000 former coalminers and their families will be on average around £29 better off each week, with 10,000 of those being from South Yorkshire.
Mr Miliband visited the National Union of Mineworkers’ headquarters in Barnsley today, to pay tribute to the ‘persistent, dogged and determined’ miners who fought for their pensions.
“I think it makes a massive difference to lots of people financially. We’re talking about people on pretty modest pensions,” said Mr Miliband.
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Hide Ad“It’s the right thing to do. It’s not miners asking for the government to give them something, it’s something that they should have had by right, and I’m really glad that we’ve been able to honour it.
“I think it’s about more than the money – it’s about the respect for communities.
“This is no more than doing the right thing by miners and their families, people who powered our country, who we owe a huge debt of gratitude to.”
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Hide AdGary Saunders, chair of the trustees of the Mineworkers’ Pension Scheme, added that the change will mean ‘a little bit more money, which is always helpful, especially at times when money is tight’.
“But more than that, it’s recognition,” Mr Saunders added.
“The way that the government guarantee was done originally at privatisation was done just to victimise us.
“It was a spiteful act to close the scheme down, keep the lads out of it such as myself, that stopped in the industry.”
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Hide AdSouth Yorkshire mayor Oliver Coppard added: “The physical scars of what we lived through in South Yorkshire are largely gone. But psychologically, in terms of how people feel, those are the scars that we still need to heal.
“Yes, the money is important, but it’s more about that sense of justice being done.”
Barnsley South MP Stephanie Peacock, who has campaigned for miners pensions to be paid in full, said the announcement was ‘long overdue’.
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Hide Ad"I was pleased to secure the cross party report, which really laid the foundations for this policy.
"I’m just really pleased that a few months after we stood in the same historic room to announce our manifesto, commitment that we’re here again, to announce it’s happening.”
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