Council criticised for investing in Belfast

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HAMPSHIRE County Council has come under fire for investing in Belfast.

CBRE Global Investors, the group which manages the local authority’s pension fund, has bought the site of a Tesco in County Londonderry for £6m.

The leader of the Lib Dem opposition group, Cllr Keith House, said the council should support local businesses.

He said: ‘Hampshire’s pension fund can and should be used to invest in property to get high returns for Hampshire people, but it is a scandal that when investment is needed in Hampshire, our own county stands aside.’

But Tory councillor Mark Kemp-Gee, chairman of the pension fund panel, said: ‘The main reason for not investing in Hampshire and the two cities is the risk of a perceived conflict of interest between the pension fund and the roles of local authorities as planning authorities.’