The Sydney Morning Herald has reported that the Sydney Anglicans are in deep financial crisis and contemplating severe ministry cutbacks. Damien Murphy writes:
THE world’s richest and largest Anglican diocese has lost more than $100 million on the sharemarket and is investigating ways to cut programs and ministries across Sydney.
Two years ago the Anglican diocese of Sydney was able to allocate $30 million to educate new ministers, spread the Gospel and reach out to young people. But returns from investments have plummeted so steeply that the funds available next year have been slashed to $5.6 million.
For more of this article see millions wiped out by church gambles. The Sydney Anglicans themselves are saying hard dicisions await the Synod and that courage is needed in touch times. Archbishop Jenses has also published his letter to Sydney Anglican churches.