Church of England Faces Scrutiny Over Unspent £100 Million Slavery Reparations Fund

Rochester Cathedral’s archives reveal its dean and chapter invested directly in a slave-trafficking company in the early 18th century, yielding profits estimated at 400%. The Very Reverend Philip Hesketh, Dean of Rochester, noted these funds likely financed extensive renovations, including the cathedral’s quire paving and Georgian houses for staff. This local history reflects a broader institutional entanglement.

Church’s Financial Link to Slavery

In 2023, the Church of England acknowledged that Queen Anne's Bounty, a precursor to its current multi-billion-pound investment fund, invested heavily in the South Sea Company. This company trafficked approximately 34,000 enslaved Africans across the Atlantic, often in conditions leading to a 10-15% mortality rate. The Church’s profits from these investments are estimated to be the modern equivalent of £1.4 billion.

Then-Archbishop of Canterbury Justin Welby issued an apology, promising a £100 million “social impact” fund, Project Spire, aimed primarily at supporting black-led enterprises in the UK. However, the funds are yet to be disbursed.

Opposition and Legal Challenges Emerge

Project Spire faces a growing backlash. Richard Dale, an economic historian, disputes the Church’s forensic audit findings, arguing investments were in government bonds rather than the South Sea Company’s trading operations. Proponents of the audit, like Dr. Helen Paul, maintain that the annuities cannot be separated from the company’s slave-trading activities.

Lord Nigel Biggar, an ordained Church of England priest and academic, characterises the Church’s reparations initiative as a “moral panic” in response to contemporary political pressures. He contends that slavery was a widespread historical practice, and viewing the Church’s past through a 21st-century moral lens is misapplied. Biggar also challenges the premise that historical suffering directly dictates modern disadvantage, citing disparities in economic conditions between descendants of enslaved people and others.

Furthermore, 27 Members of Parliament and peers have called for Project Spire to be abandoned, citing legal restrictions on Church funds, which are typically designated for parish support and clergy wages. Conservative MP Katie Lam argues that diverting funds to Project Spire would deter donations. While the Church Commissioners have committed £1.6 billion to existing work, they plan to establish a separate charity for Project Spire to address these concerns, leaving the project in legal gridlock.

Reparative Justice Efforts Continue Elsewhere

Despite the Church of England’s internal stagnation, some reparative justice initiatives linked to the institution are progressing. The United Society of the Propagation of the Gospel (USPG), a missionary wing that once operated the Codrington estate, a slave plantation in Barbados, is funding a separate £7 million project directly on the estate. This work includes financial literacy, small business grants, and infrastructure development.

For Kevin Farmer, executive secretary of the Codrington Trust in Barbados, arguments that the Church absolved itself by supporting abolition are deeply flawed. Father Andrew Mumby, Rector of St Peter's Church Walworth, highlights the intergenerational poverty affecting his largely black congregation, linking it to the legacy of the transatlantic slave trade. He views opposition to reparative efforts as a manifestation of “white fragility,” perpetuating division by ignoring historical injustices.

The Church of England’s commitment to addressing its complicity in slavery is now caught between calls for Christian justice and the complexities of modern political opposition, with Bishop Rosemarie Mallett acknowledging a narrowing window for Project Spire’s implementation.