Why is the Church of England worth so much and how does it make money?
by Jasmine Andersson, iNews:
The Church of England has hit the headlines after it offered to buy off the £400m loan book of collapsing pay-day loan firm Wonga.
However, just the week before, it announced it would not be severing ties with Amazon and has been found to offer zero-hours contracts in some of its establishments, leading people to question the church’s choices as an investor and employer.
But where has the Church’s money come from, and how does it tend to invest it? How much money does the Church of England have and where did all the money come from?
The Church’s property portfolio and investments are immense. It is sitting on a combination of ancient endowments and investments worth £8.3bn, which last year alone increased by £400m.
As i has previously reported, these earnings are enough to make the CofE by far the UK’s biggest charity, with an income more than three times that of Oxfam.
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