A north-east MSP sold more than £30,000 of shares in one of the world’s biggest tobacco companies just days after being sworn in at Holyrood, it has been revealed.
Bill Bowman, who was elected to parliament in December following the death of list MSP Alex Johnstone, currently sits on the Economy, Jobs and Fair Work Committee.
According to the Register of Interests, Mr Bowman previously owned shares worth £30,717.26 in British American Tobacco (BAT), the world’s second largest cigarette company.
His entry to the register reads: “I owned ordinary shares in British American Tobacco, within a Self-Invested Personal Pension and a personal portfolio, with a total value of £30,717.26. I disposed of these shares on 12 January 2017.”
BAT has been rocked by a number of global controversies in recent years such as in 2015 when then company was accused of bribing senior politicians in order to sabotage anti-smoking laws.
The allegations by whistleblowers from within the company, and supported by court documents, related to the brand’s operations in several African countries.
Speaking at the time, a BAT spokesperson said the allegations were from “former employees with a clear vendetta against us, whose employment was terminated in acrimonious circumstances and who present a completely false picture of the way BAT does business.”
They added: “Any proven transgression results in disciplinary action and may lead to dismissal. We will not tolerate corruption in our business, no matter where it takes place.”
However in 2016, BAT was again embroiled in scandal after being forced to investigate claims that that child workers were being used to grow and process tobacco in supply farms in Bangladesh.
Again, a senior company figure said the claims presented a “misleading and inaccurate view of our tobacco leaf farming supply chain”, but added that it had asked for details of the farm locations.
Mr Bowman’s BAT entry is just one of a number of investments recorded from his £600,000 portfolio, described by a Scottish Labour spokesman as an “incredible list of financial interests”.
The spokesman added: “Of course, Mr Bowman is not alone among Tory MSPs in having such a remarkable entry in the register.
“Voters will also expect Mr Bowman to explain why he hurriedly disposed of his shares in British American Tobacco – one of the world’s largest tobacco firms that has been at the centre of a series of global scandals – after becoming an MSP.
“Did Ruth Davidson order him to do so in a desperate attempt to avoid embarrassment?”
Speaking to a national Sunday newspaper, an SNP source claimed Mr Bowman was “desperate to cash in his shares to cover the lifestyle that he’s accustomed to”.
Asked why Bowman had disposed of his shares in the company so so soon after becoming an MSP, a Scottish Tory spokesman said: “Mr Bowman has completed and updated his Register of Interests as required by parliament. He has declared his shareholdings openly and in line with procedure, as have many other MSPs.”
