Posted on 2016-01-28 | 05:19

Roger has tabled an Early Day Motion supporting local councils’ right to decide on an ethical investment policy, and condemning the Government’s plans to amend legislation to prevent this.

The Government are planning to change the Local Government Pension Scheme Regulations 2009 to prevent local government from choosing not to invest funds in companies involved in the arms trade, illegal settlements in the occupied West Bank, tobacco industries or fossil fuels.

Roger believes that that councils have not only the right, but also the duty, to avoid financially supporting companies making a profit from human misery, exploitation and death.

He commented: “It is absolutely right for councils to follow the wishes of local people when it comes to choosing where to invest their funds. I fully support and applaud local citizens and councils who work together to create an ethical investment policy. It would be shameful and outrageous for the Government to attempt to stop people from exercising their democratic right to decide where their money goes and which companies they support.”

The motion states that rather than trying to force people to support unethical companies against their will, the Government should seriously reconsider its own exporting rules and foreign policy and stop selling weapons to countries such as Saudi Arabia, which uses them against civilians in Yemen. The Government must stop this disgraceful attack on local democracy and start acting on the principle that public money should be used for public good.