Millions of pounds currently being invested in tobacco companies by the Avon Pension Fund should be pulled out immediately according to Bristol Liberal Democrats.

The Liberal Democrat Group is tabling a motion for its next full council meeting where it will urge the Mayor to press the fund to disinvest from all tobacco products.

“The Avon Pension Fund (APF) continues to have quite substantial investments in the tobacco industry, including shares in British American Tobacco worth £8,681,361,” the group said in its latest motion document.

In addition, the Lib Dems said total investments in tobacco were almost £12m including investments in Imperial Tobacco Group, one of the world’s largest tobacco corporations.

Liberal Democrat cabinet councillor Barbara Janke stated: “At the moment, we are investing heavily in smoking, one of the major causes of death and disease in this country.

“This cannot be right and must be stopped” she added. “We urge the other parties on Bristol Council and our colleagues in neighbouring local authorities who are all members of the Avon Pension Fund to join our campaign to end these investments.”

The Liberal Democrat Group added that if the pension fund were to disinvest from the tobacco industry it would send out a “strong and valuable message”.

“It would demonstrate in the strongest possible terms its commitment to the view that damage done to public health by smoking must outweigh the importance of maximising profits in the investment decisions of the Avon Pension Fund,” the group said.

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