Pension fun decision over Gaza welcomed

Slough Trades Union Council welcomes the article in last week’s Slough & Windsor Express ‘Reviewing pension fund links to war’.

The report outlines the motion on arms supply submitted by the Slough Labour Group which, after some amendment, received cross party support.

As a result, Slough Borough Council (SBC) made a series of pledges which can only be welcomed albeit, we believe, with some provisos.

It is reported that members of all parties at the meeting spoke passionately about the ongoing humanitarian crisis in Gaza and renewed calls for a ceasefire.

Evidence brought to the meeting included that from Palestine Solidarity Campaign (PSC) which has listed 55 Local Government Pension Schemes (LGPS) which are aiding Israel amid the ongoing war in Gaza. PSC has identified the Berkshire Pension Fund as having ‘known complicit investments’ of nearly

£38million.

The passing of the motion is good news, heralding a development in local politics which reflects a wake-up call, not only in local councils but also going to central government and Parliament which has remained abysmally slow in responding to the situation in Gaza.

The motion agreed steps which were as follows – to lobby the Foreign Secretary demanding full transparency regarding advice received over the legality of ongoing arms exports to Israel; to take steps to ensure that none of Slough’s pension investments are made in UK’s defence manufacturers; and to review and adopt a new responsible investment policy that meets a high ethical framework and disinvests in any company that derives more than 20 per cent of its revenue from weaponr y.

It would have been encouraging to read that the council will disinvest in any company that derives any amount of its revenue from weaponry; thus, nil per cent not 20 per cent.

Secondly, such statements will need to be closely monitored to address their progression.

We believe that those putting forward the motion will maintain careful watch and hope that this is a start that other councils in Berkshire and beyond will sign up to.

Slough Trades Union Council continues working and supporting organisations like PSC with its campaign for ceasefire and immediate end of arms sales to Israeli and any other governments that are attacking innocent civilians. We look forward to Council implementing the motion.

Margery Thorogood Secretary, Slough & District Trades Union Council