Chancellor will come up with ‘satisfactory deal' on miners pensions

Chris Evans MP told ex-miners in Caerphilly, “We are on your side,” as the Chancellor promised a “satisfactory deal” on their pensions.

Mineworkers say they lost out in 1994, when the Conservative government took over the pension scheme as British Coal was privatised.

Announcing his Budget, Chancellor John Healey said: “Every penny of the pension surplus now goes to miners.”

Speaking in a Westminster debate, Mr Evans said he was pleased with the Budget and would continue “fighting” for ex-miners.

Mr Evans said: “I come from a mining family. My grandfather was a miner. He was an example of the hundreds of thousands of people who built our society and who sacrificed their life and their health to keep this country moving.

“That is why I am so pleased that 100% of the surplus of their pensions will now go to them. It is only the beginning, and yes, we need to talk about future bonuses, but I am heartened and I genuinely believe that the Chancellor is a good man. Caerphilly MP welcomes Autumn Budget pension boost

“He will speak with the National Union of Mineworkers, and we will come up with a deal that will be satisfactory to all sides. I want to say to all those ex-miners who live in my constituency: we are on your side, we hear what you are saying, and we will continue fighting for you until you get the justice you deserve.”

Chancellor John Healey said: “Every penny of the pensions surplus now goes to miners. I know that the job is not done and I will go on to ensure the full transfer of the guarantor’s fund.”

David Chadwick, the Liberal Democrat MP for Brecon and Radnor, criticised the Government’s “slow” response to the issue.

Mr Chadwick said: “This would be a gross betrayal of former miners across Wales and the UK, including those in my own constituency!”

“These miners worked hard all their lives. Many are now elderly and in poor health. They deserve to receive the pensions they were promised before it is too late.”

Chris Evans has asked the Chancellor to set a deadline for releasing the £1.2bn Guarantor's Fund, which remains locked up.

Under the 1994 arrangement, the Government guaranteed the scheme's value in return for 50% of any investment surplus, although the guarantee has never cost taxpayers anything.