§ 31. Mr. ChapmanTo ask the right hon. Member for Selby, as representing the Church Commissioners, what is the amount and proportion of the commissioners' expenditure allocated to clergy stipends and pensions in the latest year for which figures are available.
§ Mr. AlisonIn 1987 the commissioners spent £38.7 million on stipends and £39 million on pensions. This was 66 per cent. of their investment income.
§ Mr. ChapmanI welcome the fact that two thirds of the commissioners' income is allocated to clergy stipends and pensions, but does my right hon. Friend agree that it is essential to encourage the commissioners to maximise the 661 interest that they can receive on their assets? Does he also agree that they are doing that very successfully and that they now have a very healthy stake in capitalism?
§ Mr. AlisonYes. The commissioners' handling of their investment portfolio is exemplary and way ahead of the field in yield for their various investments. One principal beneficiary of that judicious and sound investment policy is the very reasonable level of clergy pensions which are now paid, with prospects of yet further improvements to come.
§ Mr. SkinnerIs the right hon. Gentleman aware that earlier this year at the Union of Democratic Mineworkers annual conference at Weymouth it was reported that some churchmen, who said that their stipends were too low, had joined the bosses' union—the UDM? At that conference, there were four clergymen and a rabbi. Led by one from the old ASTMS, they said that they were looking for industrial action, but Roy Lynk said, "We are not having any of that here." What other advice has the right hon. Gentleman?
§ Mr. AlisonIn view of the level of clergy stipends and pensions, I could suggest that Mr. Arthur Scargill or even Mr. Clive Jenkins might seek ordination in the Church of England.