MINERS PENSION FUND SURPLUSES

Early day motion 264, tabled 13 January 2000 by Michael Clapham (Labour). Signed by 133 members.

That this House welcomes the Coalfield Communities Campaign report on the Miners Pension Funds and notes that every year the Treasury receives a multi-million pound windfall from the funds, which have an asset value in excess of £23 billion, under arrangements which were put in place by the Tory Government when the coal industry was privatised in 1994; and, in view of the modest risk that is now involved, asks Her Majesty's Government to adjust the division of the surpluses in a fairer way, leaving more for the 300,000 plus pensioners, 28,000 of whom receive less than £10 per week, and to plough back a larger proportion of what has been received into coalfield communities.

Signatures by party: Labour 101, Liberal Democrat 18, Labour/Co-operative 5, Plaid Cymru 4, UUP 3, Independent Labour 1, Scottish National Party 1.