THE greatest failures in UK society come from the absence of self-awareness and other lost virtues, the Archbishop of Canterbury has said.

He was delivering an address at the annual Lord Mayor’s Banquet, on Monday night, at which the Prime Minister was also present. Rishi Sunak also gave a speech, which was focused on foreign policy.

Archbishop Welby reflected on traditional virtues and definitions of goodness in society, positions of power, and in the City. He said: “Ethics and virtues aren’t inscribed on paper or tablets. They can only be written on the human heart.”

He continued: “The greatest failures in our society come from the absence of the virtues of self-awareness; that we do believe in our own sinless perfection, and we don’t believe in sin.

“If we can’t acknowledge our shortcomings, our sins, we don’t learn from our failures. And if we don’t think we need forgiveness, we don’t give it to others. Forgiveness oils the wheels of society, of politics, of the markets. It makes civilisation possible. After war it may take generations, reasonably and understandably, but without it the international future is of armies fighting by night on a darkling plain.”

Archbishop Welby referred to the work of the Church in supporting people in the UK who were now in debt or turning to foodbanks to survive, as well as abroad, where lives were continuing to be devastated by war.

He ended his speech by questioning who the financial industry was serving. “An industry or nation that serves not people but the economy is idolatrous. It is confusing means and ends.”

Concluding, he said: “We are one of the richest nations, and yet in the face of climate change, vast wealth won’t save us unless it serves the population of the world.”