The Church of England has unveiled a three-year spending plan that includes an increase in clergy stipends and enhanced investment in local churches.
The denomination’s endowment fund, which accounts for approximately one-fifth of its annual budget, is expected to provide $2.17 billion (£1.6 billion) in funding up to 2029, representing a 36% increase compared to the current three-year period.
At the top of the list for funding priorities is a 10.7% increase in clergy stipends, which have declined significantly in value in recent years due to inflation. The move comes as part of a broader package aimed at improving clergy well-being. Last month, proposals to improve clergy pensions were also announced and will be debated at the General Synod next month.
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The funding plans announced today further include $129 million (£95 million) set aside for clergy retirement housing and for additional support for those training to be ordained.
The Church of England stated that it had witnessed four years of increasing church attendance and was looking to invest to help sustain this trend and revitalize local communities.
In the next three-year period, investment in mission and ministry is set to rise by nearly 9% to over $564 million (£416.4 million), with more than a quarter of that going toward the lowest-income communities.
The CofE has also stated that funding will be allocated to support Britain’s great cathedrals and contribute to Net Zero targets.
The Archbishop of York, Stephen Cottrell, said, “The Church of England exists to live out the Good News of Jesus Christ in every community in England.
“We are the church of and for the people of England, and our work is funded through a living partnership between the church commissioners and the thousands of individuals and communities who give so generously and sacrificially.
He concluded: “What we do with that money matters. Parishes and clergy are at the heart of everything we do … We want to recognize that. It is also vital that we prioritize support for churches serving communities in the greatest need. In this way, we can continue to fulfil our vocation of being the church for everyone.”
This article was originally published at Christian Today
