HC Deb 10 December 1990 vol 182 cc654-5
29. Mr. Harry Greenway

To ask the right hon. Member for Selby, representing the Church Commissioners, what was the value of the assets of the Church Commission at their latest valuation; and if he will make a statement.

Mr. Alison

As at 31 December 1989, the Church Commissioners' total assets were valued at £3,082 million, as shown in that year's annual report, of which I think my hon. Friend has a copy.

Mr. Greenway

Will my right hon. Friend congratulate the Church Commissioners on their successful investment policies over the past few years, which have benefited clergy through higher salaries and stipends? May I hope that they will do as well in coming years as they have dome in recent years?

Mr. Alison

I am grateful to my hon. Friend for his reference to the successful investment policies that the Church Commissioners have been carrying out. We have more than kept ahead of inflation in terms of stipends and retirement pension levels. However, the next few years look like being a period of greater constraint on Church Commissioners resources. To keep as well ahead of inflation as we have in the past will be quite a tough operation. It is right to warn that colder economic winds are blowing. As always, however, we shall do our best to maintain clergy stipends and pensions at the highest possible level.