max temp: 15°C

min temp: 11°C

ESTD 1874 Search

Suffolk: Rise of 13% in Suffolk County Council’s investment in tobacco companies

11:08 11 June 2014

Suffolk County Council is to retain its investment in tobacco companies.

Suffolk County Council is to retain its investment in tobacco companies.


Suffolk County Council’s investment in tobacco firms has risen by 13% during the first year of its new role promoting public health.


The amount of its pension fund tied up in tobacco companies increased from £32.4m in April 2013 to £36.7m this April.

While still only representing 2% of the total pension fund, the authority was criticised last night by anti-smoking campaigners.

County councils took over responsibility for “public health” from the NHS last year – but while many other authorities have reduced investment in tobacco firms, the value of Suffolk’s has risen.

Last night, Suffolk County Council opposition leader Sandy Martin said it was wrong that the investment continued.

He said: “What it means is that Suffolk has the highest investment in tobacco industries of any local authority in the whole country.

“We should be setting an example on this and I would like to see this investment ended right away. I am really surprised (council leader) Mark Bee has not done something about this.”

He said the fact that less than 2% of the pension fund’s investment was in tobacco companies showed that 
it was not crucial to the fund’s success.

Mr Bee said: “Responsibility for managing the Suffolk Pension Fund, which serves some 114 local public sector organisations, is vested in the Pension Fund Committee.

“This committee is cross party, and has representatives from district and borough councils and a staff union. All investments are kept under close review.”

Peter Bellfield, chairman of the Pension Fund Committee said: “One of the requirements placed on the Suffolk Pension Fund is to make a return on investment to ensure that we have the funds to meet future pension liabilities.

“We do acknowledge the issues around public health. However, ultimately, restricting choice for the fund managers limits their abilities to do their jobs.”

Anti-smoking campaigners Action on Smoking and Health acknowledged that authorities had a duty to seek the maximum return for pension fund investments.

Policy manager Hazel Cheeseman said: “We’d like to see all local authorities disinvest their pension funds from tobacco shares.

“While pension funds have to secure a return on investment for their members there is no reason why this duty can’t be fulfilled through other investments.

“All councils should have 
clear rules on protecting local 
health policy from the influence 
of the tobacco industry but 
where they continue to invest in tobacco shares this is even more important.”

Essex County Council ended its investment in the industry several years ago.



  • The big danger here is that there could be, or at least could *appear* to be, a conflict of interest. If the council stands to lose money if tobacco companies lose profits, then that can't help but be in the minds of those in that council who have a responsibility to promote public help by discouraging smoking. Whilst I hope they're professional enough to put that aside, it's a dangerous conflict.

    Report this comment


    Wednesday, June 11, 2014

  • Maybe they should follow IBC lead and lose £5 million investing in a lump of rock in the North Atlantic Ocean. Suffolk County Council lost no money in Icelandic banks and are investing in Tobacco companies to return a profit. If they were not making a profit and had to raise council tax I am sure people would soon forget about the moral dilemma of investing in tobacco companies.

    Report this comment


    Wednesday, June 11, 2014

  • The Pension Fund Committee are obviously aware that investments made in the Tobacco industry provide a healthy return and will duly help increase Suffolk County Council employees pension pots. So why Suffolk County Council leader Sandy Martin chooses to debate morals is beyond me? Talk about cutting of your nose to spite your face!

    Report this comment

    David White

    Wednesday, June 11, 2014

  • While the fund must have day to day responsibility for making investment decisions they should also be guided by ethical principles. If they can't impose them on themselves then someone should do it for them and there should be public oversight to see that it is done.

    Report this comment


    Wednesday, June 11, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

Police are looking for four men following an attacj in Ipswich

Police are hunting for a group of four men following an attack in Bramford Lane, Ipswich.

Accident near Hintlesham causes delays.

There are delays on the A1071 near Hintlesham following an accident involving a car and motorbike this morning.

Light aircraft crashes in Essex, killing two people.

Two people have died after a light aircraft crashed in a field in Essex.

Sharon Halls and Daniel Compton's baby, Evie

An Ipswich couple have launched a desperate online appeal to raise at least £184,000 for the care of a premature baby born 12 weeks early in the Dominican Republic.

Emergency services at the scene of the accident at Barton Mills.

The motorcyclist, 20, who died following a crash on the A1101 at Barton Mills yesterday is an airman from RAF Lakenheath.

Are you a budding young writer?

Are you a wizard with words? Does your imagination race at 100 miles an hour and keep you awake at night?

Felixstowe's Martello Tower P, in Langer Road, open as part of Felixstowe's Heritage weekend.

A project to restore a defensive fort dating back to the Napoleonic era has received a £50,000 boost from a heritage funding cash pot.

Anne Humphrys and Bec Jasper have set up PACT support group for parents and families of children with disabilities.

Huge increases in the number of children in Suffolk suffering from mental health problems were today laid bare - amid major concerns about the quality of services youngsters receive.

B&Q in Anglia Retail Park will close by 2017.

Home improvement giant B&Q is set to close one of its biggest Suffolk stores - at Anglia Retail Park on the edge of Ipswich, it can be revealed.

The Nestle Purina site in Sudbury

A Sudbury pet food factory is under increasing pressure to tackle foul odours as it is revealed an environmental regulator recorded 40 stench complaints since last month.

Most read

Most commented

Topic pages