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