Investments

MPs investing in cigarette companies, oil giants and ‘tax avoiders’ through pension

Pensions paid to British MPs are funded by the profits of cigarette companies, international oil giants and companies who MPs themselves have accused of avoiding tax, The Independent can reveal.

The Parliamentary Contributory Pension Fund (PCPF), whose investments have never been made public before, ploughed more money into British American Tobacco (BAT) and oil giant BP and then any other two companies over the past year. Millions of pounds were also put into oil company Shell and controversial mining firm Rio Tinto, the list of investments shows.

The figures show BAT and BP received roughly £5.59m in investment each from MPs in 2016.

Comment here