Lib Dems attack investment in Smith Aerospace

AT A recent Council Meeting at Shire Hall, Liberal Democrat and Labour Councillors called for Gloucestershire County Council to scrap investments in companies like Cheltenham based Smiths Aerospace. 

Opposition councillors specifically called for the council’s almost £1b pension fund to avoid investing money in defence companies – highlighting specifically BAE Systems.  Defence and Aerospace companies play a key role in the Gloucestershire economy, employing hundreds of people.

Councillor Barry Dare, Leader of Gloucestershire County Council, commented: “It’s just not right to try to play politics with the pensions of Gloucestershire County Council staff and pensioners in this way. 

“I would be quite happy to discuss how we regulate the arms industry in this country – which is one of the most tightly regulated in the world.  But this sort of blanket attack on companies who employ thousands of people in this country is badly thought out.  Gloucestershire people who work for companies like Smiths and others in the defence and aerospace sectors should be very worried about the way in which the Liberal Democrats and Labour see them.”