Dear Editor

Gordon Brown has betrayed British pensioners. He has robbed them of security in retirement through his £100 billion stealth tax raid on their pension funds. By his actions in ignoring civil servants' advice he has destroyed what was one of world's best pension systems. Today, people want an apology, not a cover-up. And clearly they're wondering, 'How can we trust Mr Brown to be Prime Minister?'

Gordon Brown came to power promising: 'I can give this pledge - fairness to the pensioners under Labour' (Gordon Brown, Labour Party Conference speech, 2 October 1996).

But instead, he has betrayed Britain's pensioners with his biggest con trick of all - a multi-billion pound stealth tax on pension funds that has robbed people of their security in retirement.

In 1997, Gordon Brown imposed the ultimate stealth tax on pension funds by abolishing tax credits on dividends, costing occupational pension schemes billions of pounds and undermining the retirement dreams of thousands of people. The raid has cost pension funds an estimated £5 billion a year.

Over the long term, actuaries have predicted that Brown's abolition of tax relief will reduce the value of pension funds by at least £100 billion. The pension’s crisis under Brown was summarised by Blair's first Welfare Reform Minister, Frank Field, who said: 'when Labour came to power we had one of the strongest pension provisions in Europe and now probably we have some of the weakest'. I suppose that says it all!

Under Labour, occupational pension provision has declined catastrophically. Over 60,000 occupational pension schemes have been wound up or have begun the process of winding up since Labour took office in 1997.

And let us not forget Gordon Brown was warned of the consequences of his tax raid, as clearly demonstrated by the secret policy papers released under the Freedom of Information Act. The papers revealed that Gordon Brown knew along about the damage that the 1997 tax changes could cause to pension schemes. Treasury officials advised the Chancellor that the tax change would cause a massive shortfall in pension funds.

The Conservatives are to hold a special debate in the House of Commons after the recess to ensure Gordon Brown personally explains his actions and subsequent denials surrounding his decision in 1997. That is of course if he is prepared to attend the debate and defend the undefensible.

Yours sincerely

Esther McVey

Parliamentary Spokesperson

Wirral West Conservatives