§ 32. Mr. Higginsasked the Secretary of State for Social Services if he will give direction to health authorities that they should not invest their funds in shares of companies manufacturing cigarettes.
§ Mr. Kenneth ClarkeNo Exchequer funds are involved in shareholding by health authorities. Health authorities—and special trustees appointed by my right hon. Friend—have, in their capacity as trustees, powers under the Trustee Investment Act 1961 to invest any trust funds they hold for National Health Service purposes. The Act obliges trustees to obtain and consider proper advice on investments, but non-financial considerations in relation to investment policies are a matter for the trustees.