§ 32. Mr. FlynnTo ask the right hon. Member for Selby, representing the Church Commissioners, what is his current assessment of the value of the Church's investments. [1337]
§ Mr. Michael Alison (Second Church Estates Commissioner, representing the Church Commissioners)Commissioners' assets were valued at £2.7 billion in their annual report and accounts for 1995. The commissioners' 1996 figures will be published next year in the annual report for 1996.
§ Mr. FlynnIs not the right hon. Gentleman concerned that the Church of England pension fund was discovered to be so actuarially unsound that it threatened to wipe out all the Church's £2.7 billion, that an accountant was recently accused of defrauding the dioceses of London of £250,000, that in the past few years the Church Commissioners have lost £800 million and that, although it was started some 18 months ago, the report on the Ashford great park project has still not been published in a final form? Is it not time that the Church Commissioners got their act together and their house in order on finance?
§ Mr. AlisonThe hon. Gentleman, who is normally, like myself, a peace-loving soul, has fired a gatling gun at me this afternoon. I can deal with only one of his points in the short time available. The pensions bill in the Church of England reflects the great improvements that we have made to the pensions of retired clergy, and the fact that more clergy are retired and drawing pensions than are in active service drawing stipends.