The Church of England has announced a comprehensive three-year spending plan that aims to bolster clergy stipends and increase investment in local churches.
The denomination’s endowment fund, which makes up roughly one-fifth of its annual budget, is projected to provide “$2.17 billion” (£1.6 billion) in funding up to 2029, marking a 36% rise compared to the previous three-year period.
A primary focus of this financial strategy is a “10.7% increase in clergy stipends.” This initiative is part of a broader effort to improve the well-being of clergy members. Additionally, proposals to enhance clergy pensions have been announced and will be discussed at the General Synod next month.
The plans also allocate “$129 million (£95 million)” for clergy retirement housing and additional support for those preparing for ordination.
The Church of England highlighted its positive trend of four consecutive years of increasing church attendance and expressed its intention to invest further to sustain this momentum and support community revitalization efforts.
Over the next three years, investment in mission and ministry will increase by nearly 9%, totaling more than “$564 million (£416.4 million).” Of this amount, more than a quarter is designated for initiatives in the lowest-income communities.
Furthermore, the funding will be directed toward supporting Britain’s renowned cathedrals and contributing to the country’s Net Zero targets.
