CofE to keep Amazon investments despite hypocrisy claims

CofE to keep Amazon investments despite hypocrisy claims Archbishop Justin Welby

A Church of England (CofE) archbishop has been accused of hypocrisy after criticising Amazon’s tax practices, despite the church being one of its largest investors.

In a homily last week the Archbishop of Canterbury, Justin Welby, attacked the company for paying “almost nothing in taxes” and “leaching off the taxpayer”.

Archbishop Welby also described zero-hour contracts as “the reincarnation of an ancient evil”, while two of CofE’s cathedrals are advertising for zero-hour jobs.

His criticisms drew calls for CofE to sell its holding in the company, but the church released a statement saying the best way to tackle aggressive tax avoidance was to “be in the room with these companies seeking change as a shareholder”.

The Church said its advice on zero-hours contracts was issued in 2013, and “does not reflect current thinking”.

“As a responsible employer, the Church of England is now reviewing its working practices,” it added.

Mr Welby had said on Wednesday: “When vast companies like Amazon and other online traders, the new industries, can get away with paying almost nothing in tax, there is something wrong with the tax system.

“They don’t pay a real living wage, so the taxpayer must support their workers with benefits.

“And having leeched off the taxpayer once they don’t pay for our defence, for security, for stability, for justice, health, equality, education.”

The church’s investment in Amazon is revealed in the 2017 accounts of the Church Commissioners, the CofE’s main financial wing, which manages its £8.3 billion of historic assets. Archbishop Welby is chairman of its board of governors and in the latest report said the focus was on “ethical and responsible investment”.