Keith Swanick (Fianna Fail) | Oireachtas source

I propose an amendment to the Order of Business, that No. 29, motion 9, be taken without debate before No. 1. This motion pertains to the investment by the National Treasury Management Agency, NTMA, and the Ireland Strategic Investment Fund in equity holdings in three separate tobacco companies.

Smoking is the leading cause of preventable deaths in this country. As Professor Luke Clancy said, it is unconscionable to think that the State would invest taxpayers' money in the tobacco industry and contribute to its commercial viability. I formally wrote to the Minister for Finance over six weeks ago about this issue. Since then, 500 people have died from smoking-related illnesses. I also have had constructive dialogue with non-governmental organisations such as the Royal College of Physicians in Ireland, Royal College of Surgeons in Ireland, the Irish Heart Foundation, the Irish Cancer Society and ASH Ireland.

Smoking-related illnesses cost over €500 million a year to the health care system with up to 6,000 people dying because of them. It is estimated there are 31,000 hospital admissions due to smoking-related diseases every year. Each admission costs €5,400, which comes to an approximate cost of €170 million per year. It is an important issue. I had prepared legislation in this regard. Unfortunately, because of the constitutional constraints of the House, I was unable to push that legislation. My colleague, Deputy Sean Fleming, will be taking this up in the Lower House.