ADR says pension reserves should be invested into weapons industry

In a current affairs session on Thursday, the ADR hoped to expose the hypocrisy of the Chamber's other parties by proposing a motion to reinvest money from the pension reserve in the arms industry. But the attempt failed as the other political parties put on a united front against the motion.

The ADR's Tom Weidig said they wanted to inform citizens that their money is being used by others for political purposes, and hoped to expose the major parties by saying that there should be fewer investments into companies such as Airbus of Rolls Royce.

"Thank goodness for the companies that guarantee our freedom in Europe," he said. "Through supplying weapons to Ukraine for its defence, our reserves are low and without those companies our military strength does not look good."

The Left's Marc Baum interjected to ask if the ADR had now changed their position on supplying weapons to Ukraine, as previously the party had not supported this.

"No, it's about consistency," Weidig responded. "All parties say they should supply weapons, but the compensation fund won't invest in weapons companies."

Weidig's position was not strengthened when he asked other speakers why they would not invest in Airbus when Luxembourg had purchased a military Airbus, directing the following question at the DP's André Bauler:

"Do you not find it inconsistent for a party that supports liberalism and economic liberalism?"

"Do you mean incoherent?" responded Bauler.

MPs from other parties reacted similarly to Weidig's statements, with one MP describing it as "nonsense".

The Greens' François Bausch was unimpressed: "If you advocate for laws against child poverty, that is ideology. If you support laws that respect human rights, that is ideology."

Sven Clement, MP for the Pirates, spoke up in defence of climate-friendly investments: "Pension reserves are only safe if we ensure they are crisis-proof. We also need to step back from energy sources which are destroying our planet."

Health minister Martine Deprez said it was not a good idea to relax the criteria around investments.

Marc Baum continued: "That the ADR is now stubbornly insisting that Luxembourg employees' money should be invested in the weapons industry somewhere around the world, to impact the plight of refugees, is just madness."

Weidig responded that the other MPs were "simply hypocrites."

Needless to say, none of the other parties voted in favour of the ADR's motion.