Updated Friday evening
Sam Macrory has interviewed the Archbishop of Canterbury for Total Politics: Archbishop’s Move: Can Welby restore faith in the church?. This long article includes this:
A plan for the church to develop credit unions has been floated, with Welby proud that the church is “putting our money where our mouth is” in developing an alternative to payday money-lenders. The plan, he says, is to create “credit unions that are both engaged in their communities and are much more professional – and people have got to know about them.”
It will, he adds, be a “decade-long process”, but Welby is ready for the battle with the payday giants. “I’ve met the head of Wonga and I’ve had a very good conversation and I said to him quite bluntly we’re not in the business of trying to legislate you out of existence, we’re trying to compete you out of existence.” He flashes that smile again. “He’s a businessman; he took that well.”
This prompted articles in the press, such as these:
Madeleine Davies Church Times Watch out, Wonga, warns Welby
Andrew Grice The Independent War on Wonga: We’re putting you out of business, Archbishop of Canterbury Justin Welby tells payday loans company
Miles Brignall The Guardian Archbishop of Canterbury wants to ‘compete’ Wonga out of existence
Sam Marsden The Telegraph Archbishop warns Wonga that Church wants to force it out of business
Nick Moody New Statesman Welby’s war on Wonga
The Telegraph Church of England: People are not aware of credit unions
The Independent Video: Church of England’s war on Wonga
But then some embarrassing news broke:
Sharlene Goff and Brooke Masters Financial Times Church of England invests in Wonga backer
Rupert Neate, Miles Brignall and Rupert Jones The Guardian Church of England holds stake in Wonga financial backer
Hayley Dixon The Telegraph Church of England pension fund linked to Wonga
The Archbishop of Canterbury was interviewed by John Humphreys on BBC Radio 4 this morning: Church of England ‘must be consistent’. [duration 16:17]
Papers are already reporting on this interview:
Peter Walker The Guardian Archbishop of Canterbury embarrassed about church’s financial link to Wonga
Adam Withnall and Ian Burrell The Independent Archbishop of Canterbury confesses: Church’s Wonga investments are “very embarrassing”
There is also this short BBC News interview: Wonga row: Archbishop of Canterbury ‘embarrassed’ over Church funds.
The Telegraph has Archbishop of Canterbury Just Welby promises investigation into Wonga investment.
Madeleine Davies sums it all up for the Church Times: Church investments undermine Welby’s tilt at Wonga.