If the Senator submits a Commencement matter, I will give it serious consideration.

This morning the Minister of State at the Department of Justice and Equality, Deputy David Stanton, was present for a Commencement debate which I had initiated on bodies within the Department's remit and their investments in the tobacco industry. In response to a parliamentary question submitted by Deputy Jack Chambers, the Tánaiste confirmed that the Common Investment Fund held a small proportion of tobacco-related stocks as part of a dividend reinvestment scheme that afforded charities the choice of receiving investment income in cash or reinvesting it in the fund. She also confirmed that the Courts Service invested in a small proportion of tobacco stocks on a passive basis. In the light of the decision made by the Ireland Strategic Investment Fund, ISIF, shortly before Christmas to exit from its legacy tobacco investments, it is imperative that we see a full divestment of all taxpayer moneys from tobacco companies. It frustrates me somewhat to have to bring such a Commencement matter before this House. It is worth remembering that tobacco use in Ireland is a leading cause of preventable deaths, with approximately 6,000 deaths each year from the direct effects of tobacco. As well as the human and personal tragedies of each death, tobacco is the cause of an enormous drain on the health system. The direct cost, an estimated €500 million per year, does not include lost productivity from ill-health and other huge drains on public services. There are approximately 31,000 admissions each year that are directly related to tobacco illnesses. Each admission costs €5,400, which equates to a staggering €164 million per year. ISIF's decision came as a result of pressure from within this House and my party colleagues in Dáil Éireann. It is a welcome decision, one which is entirely in line with the tobacco-free Ireland plan which was launched by Senator James Reilly when he was Minister for Health. While I acknowledge the small nature of these investments, I also acknowledge the monumental efforts made by Members of this Parliament in combating the negative effects of tobacco use in this country. It beggar's belief we would have a Department with financial interests in any major tobacco corporation. I intend to continue to pursue this issue and bring a motion or resolution before the Seanad to seek full divestment and the implementation of guidelines to ensure no further investment in the tobacco industry by a Department or any body within its remit.