Hackney Greens and CND Demand Council Stop Investing in Arms Company

Hackney Green Party and the Campaign for Nuclear Disarmament (CND) today launched a cross-party and multi-faith backed campaign calling on Hackney Council to withdraw its investment in BAe Systems, the notorious arms company involved in international arms deals, includIng weapons sold to Israel and used against Palestinian civilians in Gaza.(1)

Through its pensions investment scheme, Hackney Council has over £10 million invested in companies that manufacture and sell weapons around the world (2). The Greens and CND are calling on the council to divest from these companies and begin the transition to an ethical investment policy.

Coordinator of the campaign, Matt Hanley of Hackney Green Party, said

"Hackney Council invests more of our council tax money in the arms trade than any other borough council in London, by quite a margin. This is both morally and ethically bankrupt, as it makes the residents of Hackney complicit in funding war.

"It is shocking that Labour, with its overwhelming Council majority, continues to invest heavily in an international arms company which is being investigated by the Serious Fraud Office and by the US Government for corruption involving weapons sales to Saudi Arabia and European countries, and also supplies the Israeli air force with F-16 jet components (3) (4).

"This long overdue campaign, bringing together anti-war activists, people from all faiths and political views, are joined in one common demand: that Hackney Council ceases investing in companies that profit from war."(5)

Hackney CND Chair Pat Allen added                                                        

"Hackney electors have no wish to invest in this sordid industry. The Council needs to listen to public opinion and switch to ethical investment with no further excuses."

ENDS

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