finance – The Church of England in Parliament

Bishop of St Albans asks about investment education for young people

The Bishop of St Albans asked a question on whether the government was promoting education on finances and investments for young people on 20th December 2022, during a debate on the regulation of cryptocurrencies:

The Lord Bishop of St Albans: My Lords, following the collapse of FTX there is great concern at just how volatile this sector is. Many young people presume that, because it is called a currency, it is more stable than it really is. I am told that, if you go online, you will find young people talking about eye-watering amounts of money that they have made and others have lost. What are His Majesty’s Government doing to educate younger people about proper investment understanding, so that they are aware of the risks they are taking if they enter this market?

Bishop of St Albans asks about changes in international stock markets

The Lord Bishop of St Albans asked a question about the stock market in Paris overtaking the London stock market on 17th November 2022:

The Lord Bishop of St Albans: To ask His Majesty’s Government what assessment they have made of the impact of Paris overtaking London as Europe’s most valuable stock market.

Baroness Penn (Con): My Lords, according to the Global Financial Centres Index, London is the second highest-ranked financial centre in the world after New York, while Paris is 10th. The UK continues to be the pre-eminent financial centre for derivatives and foreign exchange trading. In all equities instruments, the UK almost doubles France’s total market capitalisation at $6.2 trillion. To support the UK’s competitiveness, the Government are undertaking ambitious reforms to keep pace with innovation.

Church Commissioners Written Answers: Church Finance

Andrew Selous MP, representing the Church Commissioners, gave the following written answers to questions from an MP on 18th March 2022:

Ben Bradshaw MP (Lab): To ask the Member for South West Bedfordshire, representing the Church Commissioners, with reference to the Church of England’s report, entitled From Anecdote to Evidence, what planning assumptions have been made in dioceses where large parish structures are being implemented in relation to the consequent fall in congregation numbers and drop in giving.

Bishop of St Albans asks about monetary policy, car finance schemes

On 30th December the Bishop of St Albans received written answers to questions on monetary policy, and care finance schemes:

The Lord Bishop of St Albans: To ask Her Majesty’s Government, further to the Written Answer by Lord Agnew of Oulton on 3 December (HL10488) and the exchange of letters between the Bank of England and HM Treasury on the Asset Purchase Facility on 29 January 2009, what assessment they have made of the implications of the confirmation in these letters that the financing of the Asset Purchase Facility by central bank money would require HM Treasury consent for the question of whether it is appropriate for the Government to comment on the effectiveness of quantitative easing; and what assessment they have made of the effects of quantitative easing on the increase in house prices compared to increases in wages. [HL11243] Continue reading “Bishop of St Albans asks about monetary policy, car finance schemes”

Church Commissioner questions: church building reopening, weddings, housing, public worship, music, online services, family life, church finances and the Transition Pathway Initiative

On 25th June 20202 the Second Church Estates Commissioner, Andrew Selous MP, answered questions from MPs in the House of Commons, on: church building reopening, weddings, housing, public worship, music, online services, family life, church finances and the Transition Pathway Initiative. A transcript is below:

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Church Commissioners’ Written Answers: Coronavirus, Lichfield and Hereford dioceses

On 18th May 2020 the Second Church Estates Commissioner, Andrew Selous MP, answered two written questions from Mark Pritchard MP:

Mark Pritchard (The Wrekin): 46582 To ask the Member for South West Bedfordshire, representing the Church Commissioners, what discussions he has had with the Diocese of Lichfield on lost revenues resulting from the closure of places of worship during the covid-19 outbreak.

Mark Pritchard (The Wrekin): 46581 To ask the Member for South West Bedfordshire, representing the Church Commissioners, what discussions he has had with the Diocese of Hereford on lost revenues resulting from the closure of places of worship during the covid-19 outbreak.

rsz_1andrew_profile_2 Andrew Selous: The Church Commissioners and National Church Institutions are in discussions with dioceses during this challenging period, including on the evolving financial impact. A series of structured interviews have been held with every diocese, including with the Diocese of Lichfield at the beginning of May [and Diocese of Hereford at the end of April]. Though too early for detailed conclusions, it was clear that the financial challenges will be significant.
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Bishop of Southwark asks about access to cash machines in poorer areas

On 4th February 2020 Lord Naseby asked the Government “what steps they intend to take to ensure free cash machines are available for cash withdrawal for all communities in the United Kingdom.” The Bishop of Southwark, Rt Revd Christopher Chessun, asked a follow up question:

The Lord Bishop of Southwark: My Lords, the Minister will be aware that the research last autumn by Which? indicated that nearly a quarter of people in the poorest areas use only cash. Will he consider a minimum service guarantee for free cash machines to stem this growing injustice?

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Bishop of Birmingham speaks about banking reform

On 3rd September 2019 the Bishop of St Albans led a debate on a motion to ask the 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, Rt Revd David Urquhart, also made a contribution:

Lord Bishop of Birmingham: My Lords, I am grateful to my right reverend friend for leading this debate and I welcome the Minister to his new role. I want to focus on the recommendations in the original report—the references in paragraph 138 of the summary, volume 1—which looked at culture change. The response of the banking industry to that challenge came through a report produced by Sir Richard Lambert, which said that if the banks didn’t face up to this, there will be further intervention, regulation and direction. As a result, the UK Banking Standards Board was set up in 2015. I declare my interests in that I am a founder member of that board and also part of the ad hoc Financial Exclusion Committee which has been referred to already.

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Bishop of St Albans leads Lords debate on progress made in banking reform

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.

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Church Commissioner Questions, Church Investors Group, Digital Connectivity, Environmental Taxation, Homelessness, the Holy Sepulchre, Church Infrastructure and Financial Education

On the 8th March the Second Church Estates Commissioner, the Rt Hon Dame Caroline Spelman MP answered written and oral questions in the House of Commons. Questions covered a range of issues including the Church Investors Group, digital connectivity, environmental taxation, homelessness, the Holy Sepulchre, church infrastructure and financial education in church schools.

Continue reading “Church Commissioner Questions, Church Investors Group, Digital Connectivity, Environmental Taxation, Homelessness, the Holy Sepulchre, Church Infrastructure and Financial Education”

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