Thursday, 14 August 2008

Lambeth Conference funding gap plugged by Church Commissioners

The Archbishops Council of the Church of England and the Board of Governors of the Church Commission have stepped in to plug a £1.2m deficit left after this year’s Lambeth Conference in Kent.

After a meeting on Monday morning, August 11, the Board of Governors agreed to match the August 8 offer made by the Archbishops’ Council of up to £600,000 in interest-free loans to the Lambeth Conference Company, the part of the Anglican Communion responsible for the running of the conference.

In a statement, the Church of England said that the Company had given assurances that it would continue to seek support from the Anglican Communion to cover the debts, but that “it cannot, however, be confident that these [efforts] will generate funds sufficiently quickly for it to meet all of its obligations as they fall due over the coming weeks and months”.

The Lambeth Conference Company has accepted the loan. Read more
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1 comment:

Peter Kirk said...

Well, the Church Commissioners have a history of making bad investments, and this may prove to be another one. What will happen if the Lambeth Conference Company turns out to be as bankrupt as the conference itself?