MP Pensions Boosted By Tobacco Shares

Track of the day Groovin High - Toots Thielemans.

While Ministers and Members of the Scottish Parliament are busy solving Scotland's health problems by banning smoking in enclosed spaces, they are busy protecting their own pensions by investing a quarter of a million pounds of public money in tobacco companies.

Their pension fund apparently holds a £177,740 stake in Imperial Tobacco, manufacturers of Embassy, Regal and Lambert & Butler, £37,787 worth of shares in Altria, the makers of Marlboro and a £41,986 holding in Japan Tobacco, the producers of Camel.

According to a story in yesterday's TimesOnline "the price of some of the tobacco shares have trebled since 1999, helping to boost the fund’s value to £14m."

The article also points out that the fund has invested £258,000 in drinks companies like Diageo, owners of Smirnoff, Guinness, Gordon's and Bell's. Next month they are introducing yet another alcopop range to tempt people who don't like the traditional taste of beer or spirits. That should really boost the pension fund.

What a bunch of sanctimonious hypocrites!