Jump to full article: Australian Broadcasting Corporation (ABC) (au), 2006-06-26
Intro: New South Wales Premier Morris Iemma says he cannot understand concerns about Government money being invested in a tobacco company.
NSW Treasury has bought a stake in the owner of Phillip Morris, which makes a number of high-selling cigarette brands.
The head of the Cancer Council, Dr Andrew Penman, says it the Government is hypocritical to convey strong anti-smoking messages at the same time it is profiting from shares.
The Opposition's health spokeswoman, Jillian Skinner, also says it is unacceptable for Mr Iemma to try and defend the investment. . . .
"Where do you stop? The next target then are the coal mines? Oil companies or other investments? " he said.
"This is arm's length from Government, these are decisions made by fund managers."
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