"Miners deserve better" - Rennie calls on Government to keep promise

2.47.35pm BST (GMT +0100) Wed 14th May 2008

West Fife's MP has today spoken out against the misuse of a miners' pension scheme by the Government. Willie Rennie, who represents hundreds of former miners, criticised the government for failing to share at least part of the £8billion profit it is set to make on the back of miners' pensions.

In 1994 the Government guaranteed that the benefits from the pension scheme would rise at least in-line with inflation; in return they would receive 50% of the surplus from any valuation of the scheme. No one envisaged such a strong stock market performance which has now delivered massive sums to the Government. The MP is astonished that the Labour Government has failed to honour its agreement with the miners to review the arrangements in 2002.

Willie Rennie MP said:

"The Labour Government has failed to honour the spirit of the original agreement, which could not have foreseen such spectacular success. Their continued inaction shows that Labour are no better than the Tories for taking from those who can least afford it to pay for their economic mismanagement.

"The Government must act now and fulfil both its promise to review the 1994 arrangements and their moral obligation to the miners. Surely our miners deserve better?"