Plan launched to enable rich dioceses to transfer wealth

Plan launched to enable rich dioceses to transfer wealth

Legislative proposals will be developed to give richer dioceses freedom to equitably share their wealth, after a debate at November’s General Synod.

Currently dioceses can only use Diocesan Stipend Funds for certain specified purposes within their dioceses.

The Bishop of Sheffield, Pete Wilcox, Chair of the Church of England’s Mutuality in Finances Group, addressing the General Synod, said: “The legislation we are proposing today would remove an existing restriction on how particular historical endowments in dioceses can be used, giving dioceses more ability, but no obligation, to be generous.

“But If you have looked closely at this motion, and know a bit about the financial challenges which were already present for many dioceses across the Church of England, even before the pandemic, you will realise that this proposal is not in itself capable of fixing the whole problem.

“But this motion is a first step which can open up for us an urgently necessary conversation about the full extent of the problem.”

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