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Church of England

The Church's One Foundation

From the Sunday Express (January 18th, 1959): “The Church of England stands to make millions of pounds if the Tories win the next election. The money will come from investments in free enterprise steel. The Church’s 2,187,000 shares put it among Britain's top ten investors in steel. . . . The investment is worth around £3,400,0000. Growing confidence that Tory success at the polls will end the threat of renationalisation has brought a rise of nearly 50 per cent. in steel shares from the low points touched last year. This suggests that the Church is already showing a profit in the region of £1,000,000 on its holding . . .  Soon the Church’s advisers will face the problem of reinvesting the £1,100,000 to be received from the take-over of its $260,000 British Aluminium shares.. This single transaction has brought the Church a profit estimated at £500,000."

    The prophets of the early days for truth made spartan search,

Sting in the Tail: Left Wing Futility

Left Wing Futility

Denis Canavan, Labour MP for Falkirk, is refusing to pay his £50 fine for not registering for the poll tax which came into effect in Scotland in April.

His response to a sheriff officer's threat to impound some of his property was to refer him to a 15 stone unemployed miner with two large greyhounds who will be looking after his house when he is at Westminster.

Cooking the Books: An Easy Match for Mammon

On 25 July the Archbishop of Canterbury, who fancies himself as a bit of a financial expert, said that it was his Church’s intention to drive the payday loan company Wonga out of business. He revealed that he had told Wonga’s boss that ‘we’re not in the business of trying to legislate you out of existence, we’re trying to compete you out of existence’ (Times, 26 July).  The next day he was left red-faced when it came out that his Church had money invested in a venture capitalist, Accel Partners, that was one of Wonga’s financial backers.

His plan is to encourage credit unions by offering them premises in churches and expert advice from Christian businessmen. But the idea that credit unions could out-compete capitalist money-lending enterprises like Wonga is pure fantasy.

Halo Halo!

Hello Hallo

The Voice of Protest and the Voice of the Lord(s)

In the week that the government announced its latest welfare reform attack and Iain Duncan Smith sneered that he could live on £53 a week if he had to (though he wouldn’t be doing it because calls for him to do so were just a ‘stunt’) there were, among the voices of protest, a few from charities and church groups.

One bitter complaint, however, in the Daily Mail (29 March) to David Cameron from former Archbishop of Canterbury George Carey had nothing to do with poverty or the government’s contempt for the working class. No, what Carey wanted to complain about was what he saw as ‘aggressive secularism’ from Cameron and Co, particularly in their position on gay marriage.

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