Christopher Snowdon appeared on BBC Radio 4’s You and Yours to discuss whether local government pension funds should invest in tobacco companies. He argued that tobacco shares are the best investments available, and these are unaffected by falling smoking rates.
There is no relationship between the pension funds and the council’s policies and messages regarding public health, he claimed. Councils are being well advised on what to do with their pension funds and which shares to invest in. The protestations from local politicians are simply empty gestures and grand standing, which would lead to higher costs for the taxpayer.
Listen here. Segment starts at 21:20.