Home > Uncategorized > ‘Anti-smoking’ town halls in Greater Manchester invest £54m in cigarette giants – Manchester Evening News

‘Anti-smoking’ town halls in Greater Manchester invest £54m in cigarette giants – Manchester Evening News

‘Anti-smoking’ town halls in Greater Manchester invest £54m in cigarette giants – Manchester Evening News.

Too many councils are holding to the line that they have no choice but to invest in tobacco companies to comply with the law.  It is fair to say that the law lacks clarity.  One might suppose then that comments from councils about what the law says on this issue would reflect that lack of clarity.  But it is just the opposite; they say they have to invest in tobacco to comply with the law.  Fair Pensions and ASH produced a briefing on the law, which if nothing else makes it clear that the legal position is not as black and white as the councils and their advisers suggest.

There is in this story a welcome call from a councillor for government to address this issue.  It would be a very simple matter for the government to clarify the law in this area by either:

1. Prohibiting public sector bodies from holding tobacco investments (which would bring the UK into line with FCTC Guidelines that say no branch of government should invest in tobacco companies; or

2. Expressly permitting public sector pension funds to bar tobacco investments from their portfolios.

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