In last week’s bulletin we mentioned the Archbishop of Canterbury’s expressed desire to see Wonga out of business. That seems as though it is about to happen as changes in the law have led to serious problems for this formerly powerful payday lender.
Archbishop Justin believes that being able to obtain a loan is an important part of life. He is concerned for the many millions of people in this country with little in the way of resources. Often a personal tragedy such as bereavement or job loss can cause a major crisis, or something on a global scale such as a recession can have a huge effect on a family’s finances.
Justin writes: “People are thinking, “I don’t want to borrow any more. How am I going to pay off what I already owe?” Then suddenly the exhaust falls off the car. You have another bill and don’t know how to deal with it all. Jesus calls us to roll up our sleeves and get involved in the issues of financial vulnerability. And that is where the Just Finance Foundation comes in. It has been set up to create a financial system that is fair, accessible and open to all. His aim is to create:
- better structures of finance
- low cost affordable loans
- better habits of finance in our communities.”
In addition to praying he invites Christians to respond as individuals and PCCs to the Mustard Seed Appeal designed to launch the Just Finance Foundation at Harvest. You will hear from the Archbishop directly next Sunday morning via YouTube about why this vision matters so much to him.