E, Labour was in power for thirteen years, have you forgotten???

Tobacco shares are one of the safest on the market. Councils lost a lot of money investing in Icelandic banks. I know where I want Councils to invest our money.

Pehaps this site will enlighten people into why it is morally wrong turn a blind eye to this, the council should be ashamed of it's self.
http://www.globalissues.org/article/533/tobacco#TargetingChildrenTeenagersandWomen

In reply to CCC worker i would have assumed council workers would be angry because of the morals of earning cash of the backs of tobacco smokers particularly as tobacco companys are now pushing their products heavily in china and india,who are bombarding children with free cigarettes,perhaps you have no morals or concience and like many in the world only think of one thing- themselves.also if you read tony smiths comment regarding international law it seems you are in favour of turning a blind eye to illegal activities,whats next selling arms and weopans to child soldiers in africa.

Ha ha, just seen the price of tobacco products go up 37p in the Budget. Such joy!!

The investments only make money if people are dumb enough to smoke, and that's not up to the council :-)

Councillor Eric Nicholson hold your head in shame!

When Labour are back in power it will stop Councils investing in Tobacco companies.

E
Workington
West Cumbria

Why would council workers feel bad James O? First of all it was a government decision to impose a smoking ban, nothing to do with county council, and I certainly didn't choose to invest my hard earned pension in tobacco. I could not feel less bad, and I suspect others working for CCC feel the same. Very bizarre and flippant comment!

What an interesting scenario this is! All those employed by the councils to fight tobacco usage are simply whiling away their fruitless days until they can draw their pensions-funded by the tobacco industry. I'll bet that they will all refuse to draw such monies, after all, it would be somewhat hypocritical-does one not think? :)

Tobacco is perfectly legitimate. The local Government pension scheme is a 'defined benefits' scheme. That means how the fund performs does not matter to the recipients they get their rewards whatever.

It does matter to the taxpayer however, for every penny the fund doesnt perform it is made up from Council Tax.

It is perfectly legitimate that the funds invest in a portfolio of different areas which provide the highest return for the lowest risk.

Anything else is just pontificating at the taxpayers expense.