Lichfield diocese is set to weather the economic storm, according to the annual report of the Church of England’s financial arm for Staffordshire.
Finance Director Jonathan Hill made the pledge at the annual meeting of the Lichfield Diocesan Board of Finance and Synod, meeting at St John’s community church, Chase Terrace, on Tuesday.
Despite short-term falls in the value of the diocese’s investments, Mr Hill said the board was taking a longer view, and saw the current low prices of stock as ‘an opportunity.’
The value of the diocese’s investments fell 19 per cent over the year to December 31, 2008 – which Mr Hill said was favourable compared to the FTSE, which lost 22 per cent over the same period.
Mr Hill added: “We live in very difficult financial times and the church isn’t immune from the difficulties facing the nation, and the communities we serve. But I’m confident that the decisions we’ve taken in recent years, and the commitment from the parishes and our congregations, will help us through this turmoil.”