Anti-war campaigners protest over pensions investment in arms

Jan 29 2008 by Aaron Boland, Liverpool Daily Post

PROTESTERS last night picketed Wallasey Town Hall as the council’s pension committee met inside.

The continuing protest is against the committee’s decision not to heed calls for it to pull out of investments involving the arms trade.

The demonstration, led by the Stop the War Coalition, attracted between 40 and 50 protesters and included members of the Green Party, Merseyside TUC and CND.

Mark Holt, spokesman for the demonstrators, said their intention was to maintain pressure on the pensions committee.

He said: “We want to tell the pensions committee we are not going away, and this issue is not going away.

“We will be outside Wallasey Town Hall as long as it takes to ensure we get this decision overturned.”

Wirral Council, which administers the pension fund shared by five Merseyside councils, blocked attempts to halt investment on ethical grounds last November.

This was despite councils in Liverpool, St Helens and Knowsley, whose employees are among the pension fund’s thousands of investors, all passing resolutions calling for the fund to pull out of companies involved in the arms trade.

Last year the Daily Post revealed the fund had £13.6m linked to investments with firms involved in aspects of the trade, including BAE, Boeing and Rolls-Royce.

The pension fund manages about £4bn, on behalf of workers in local government, housing trusts and John Moores University.

Before the meeting, the committee’s chairwoman, Cllr Ann McLachlan said: “At the committee’s meeting on November 26, these concerns were considered at some length and the committee decided unanimously to continue with its current engagement strategy.

“In addition, the committee confirmed its support for the United Nations’ Principles for Responsible Investment.

“The Fund is diligent in ensuring that none of the companies in which it invests is involved in activities which would be illegal under international law.”

She said the council administered the fund for more than 100 employers on Merseyside, including the police and fire services, and many local jobs were supported by the fund’s investments.