BOLTON charities have come under fire for investing in companies involved in exporting arms.

Bolton and District Hospital Saturday Committee, Bolton Guild of Help and Bolton Hospice have all been attacked for their choice of financial investment by members of the Campaign Against Arms Trade in its latest report.

The three Bolton charities are among a long list of fund-raising, charitable, health, education and religious organisations highlighted by the CAAT in its report "Children Over Here, Children Over There".

Welfare

Rachel Harford, of CAAT, explained: "How can organisations reconcile their work for the welfare and protection of children in the UK with their investments in arms export companies which contribute to the suffering, torture and death of children worldwide?

"Ninety-five per cent of the victims of war are civilians including children.

"UK arms export companies are selling weapons to countries that are particularly notorious in their treatment of children. They are recruited as soldiers, they are refugees fleeing from conflict, and they are victims of genocidal policies in countries like Indonesia and Turkey."

CAAT's report includes detailed information on investments by charities, churches, local authorities, universities, colleges and health trusts UK-wide in the arms export trade.

It claims its Clean Investment Campaign has so far resulted in "disinvestments" by several institutions including charities, and the Catholic Churches have now completely "disinvested" in the arms export trade.

Bolton Guild of Help is listed as having investments worth 3,300 shares in engineering company GEC, and 3,650 in Vickers; Bolton Hospice is reported having 8,000 shares in British Aerospace; and Bolton and District Hospital Saturday Council as having 3,817 shares in Lucas Varity.

Mr Raymond Speakman, chairman of the Bolton Hospice council of management, replied: "British Aerospace has always been very supportive of Bolton Hospice.

"It is a local concern and our investments are in accord with the investment advice we take.

"We do not want to get involved politically. We feel British Aerospace actively engages in the defence of this country. It is part of this country's defence industry. And it seems to me very much needed, not only in terms of local jobs. I am quite comfortable with our investment."

Mr Frank Smith, chairman of the Bolton Guild of Help, added: "Often charities are given money from specific sources. It can quite often arrive already tied up in shares and trusts.

"In addition, I look at GEC for example and see it as a fine engineering company who has just a minor section dealing with arms.

"This could apply to the many thousands of companies who make the nuts and bolts towards making arms. Unless a company is specifically solely in the business of making arms, this can be impossible to get to the bottom of. Even companies in banking or telecom have connections.

"For example, most charities, ourselves included, have the majority of their finances in Government Stocks and Guilds. This is the equivalent to lending money to the Government, who use it to run the country - which includes purchasing arms, and funding the Army, Navy and Air Force.

"Where do you stop? Where do you draw the line?"

Concerns

Hospital Saturday chief executive, Peter Green, said the BEN had brought the issue to the attention of the non-profit making organisation. He said: "We acknowledge the allegations and concerns raised by the Campaign Against Arms Trade.

"The Hospital Saturday owns a small number of shares in Lucas Varity, a multi national company, a subsidiary of which makes Smith and Western revolvers for the US domestic market.

"While our primary concern is that of supporting the health of our members and the people of Bolton we have to maintain a wide and diverse investment portfolio in order to meet the requirements of the financial services authority who regulate the organisation as an insurance company.

"We will, however, now that we are aware of the concerns raised, take the opportunity for the voluntary management committee to review our investment portfolio."

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