On 3rd September 2019 the Bishop of St Albans, Rt Revd Alan Smith, led a debate in the House of Lords on a motion to ask Government “what assessment they have made of the implementation of the recommendations of the Parliamentary Commission on Banking Standards and the opportunities for further banking reform”. The Bishop of Birmingham also made a contribution, which can be found here. The Bishop’s speech introducing the debate is below, as is the Government response:
Lord Bishop of St Albans: My Lords, I add my welcome to the noble Lord, Lord Bethell, in his new role and I look forward to working with him.
I begin by acknowledging that the banks have an important role in our society today. They do many good things—they employ more than 1 million people and pay more than £60 billion in tax annually—but, despite the many good things they do, we are also aware of the history of recent years. We are now 11 years on from the financial crash and six years on from the publication of the report by the Parliamentary Commission on Banking Standards, and it is almost three years to the day since I last secured a debate on this topic.
Continue reading “Bishop of St Albans leads Lords debate on progress made in banking reform”
On 1st May 2019 the House of Lords debated a Motion from Lord Stevenson of Balmacara, “That this House takes note of the Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (SI 2019/383).” The Archbishop of York, Most Revd John Sentamu, spoke in the debate:
The Archbishop of York: My Lords, I want to support the main thrust of the speech from the noble Lord, Lord Stevenson, about debt. Julia Unwin, who was chief executive of the Joseph Rowntree Foundation, did a big research project on why people were going to Wonga. They went to Wonga because it asked no questions; people knew they could get their payday loan. Other lenders asked more questions and were far more intrusive and credit was not readily available. Noble Lords know that my archiepiscopal colleague, the most reverend Primate the Archbishop of Canterbury, said that he intended not only to reform Wonga but to do away with it, and we know what has happened to Wonga.
Continue reading “Archbishop of York on the need for access to low-cost credit”
On 6th September 2018 Lord Haskel asked Her Majesty’s Government “what assessment they have made of demand for debt advice services; and what steps they are taking to reduce the level of household debt.” The Bishop of Southwark, Rt Revd Christopher Chessun, asked a follow-up question:
The Lord Bishop of Southwark: My Lords, with the demise of Wonga, which I hope the Minister will want to join me in welcoming, does he wish to take this opportunity to endorse the work of the many credit unions which are a channel for such sound advice? Continue reading “Bishop of Southwark welcomes demise of Wonga and praises work of credit unions”
On 12th July 2018 Lord Leigh of Hurley led a debate in the House of Lords on the motion, “That this House takes note of the measures being taken to promote personal savings and the role they can play in building a stronger and fairer economy.” The Bishop of Chester, Rt Revd Peter Forster, spoke in the debate:
The Lord Bishop of Chester: My Lords, on behalf of the House, I thank the noble Lord, Lord Lilley, for his splendid maiden speech and look forward to many contributions from him in future. He mentioned the kingdom of Mercia; Chester was the northern outpost of that kingdom, so I look forward to collaboration with the noble Lord, as we do collaborate on a think tank concerned with energy and climate policy. Continue reading “Bishop of Chester highlights importance of credit unions and financial education”
On 1st March 2017 the Second Church Estates Commissioner, Rt Hon Dame Caroline Spelman MP, answered a written question from Mark Hendrick MP on the Churches Mutual Credit Union.
Churches: Credit Unions
Mr Mark Hendrick (Preston): To ask the right hon. Member for Meriden, representing the Church Commissioners, what plans the Churches Mutual Credit Union (CMCU) has to allow members of religious denominations other than the Church of England and the Catholic churches to become members of the CMCU. (64096) Continue reading “Church Commissioners – Clergy Credit Unions”
On the 26th May 2016 the Second Church Estates Commissioner. Mrs Caroline Spelman MP answered a written question to the Church Commissioners about the Church of England’s engagement with credit unions.
Continue reading “Church Commissioners Written Question: Churches – Credit Unions”
On 11th April 2016, Lord Holmes of Richmond asked Her Majesty’s Government “what steps they are intending to take to address the issue of the unbanked and underbanked in the United Kingdom.” Lord Ashton of Hyde responded. The Bishop of Durham, the Rt Revd Paul Butler, asked a follow up question. Continue reading “Bishop of Durham highlights importance of Credit Unions”