§ 29. Mr. John MarshallTo ask the right hon. Member for Selby, representing the Church Commissioners, if he will make a statement about the Commissioners' investment policy.
§ Mr. Michael Alison (Second Church Estates Commissioner, Representing the Church Commissioners)The Church Commissioners' long-standing investment policy is the effective and prudent management of the assets entrusted to them, to achieve the best total return for the furtherance of their primary object, which is the financial support of serving and retired clergy.
§ Mr. MarshallMay I congratulate my right hon. Friend upon the success of the Commissioners' investment policy, which has enabled them significantly to increase stipends? Does he agree, however, that it would be more effective for the Church if stipends were related to performance rather than minimum stipends?
§ Mr. AlisonMy hon. Friend will appreciate that performance-related pay in the cure of souls is a difficult concept. Nevertheless, the Church of England is actively engaged in a programme of appraisal of clergy performance, with which are linked proposals for consideration of the terms and conditions of service of clergymen, including the continuation of the parsonage freehold.