State nets 24m windfall from tobacco shares

HEALTH Minister Micheál Martin has been forced into an embarrassing climbdown in his attempts to stop investment of taxpayer’s money in cigarette companies.

With the ban on smoking just weeks away, it is estimated the Government’s shares in tobacco firms increased in value to 24 million in 2003.

Mr Martin told the Irish Examiner last year he was not happy about the State pension fund’s ownership of tobacco shares and would make his objections known to the fund managers.