*** DEBUG START ***
*** DEBUG END ***

Change to credit policy welcomed

by
09 January 2015

PA

The Bishop of Stepney, the Rt Revd Adrian Newman, wore a flat cap as he joined fellow campaigners from Citizens UK outside the headquarters of Wonga, in London, last Friday. The demonstration celebrated the coming into force of the Financial Conduct Authority's cap on the cost of credit. The campaign is calling for the fines paid by those who transgress the cap to be diverted into a Community Finance Fund that would help to support the credit-union sector and the provision of advice on debt.

The Archbishop of Canterbury has welcomed the Government's announcement last week that if is to fund a pilot programme​ run by the "Lifesavers" project, which is led by the Archbishop's task group on responsible credit and savings. The project aims to help children to develop financial habits at a young age, by setting up savings clubs in primary schools and in partnership with credit unions. 

Archbishop Welby said: "It is great news that the Government has announced this funding for the 'Lifesavers' pilot programme . . . This project has the potential to help establish sensible, positive attitudes to money and the habit of saving in children and young people - habits we hope will stay with them for life."

 

Church Times: about us

Welcome to the Church Times

​To explore the Church Times website fully, please sign in or subscribe.

Non-subscribers can read four articles for free each month. (You will need to register.)