Church of England benefitted from slavery, apologises

The Archbishop of Canterbury has apologised after it emerged the Church of England's investment fund has links to the transatlantic slave trade.

Queen Anne's Bounty was a fund to help support poor clergy in the 18th Century - but large parts of its investments supported carrying slaves from West Africa to the American colonies in horrific conditions.

That fund now makes up a part of the Church's $12.3bn (£10bn) investment fund.

In a snapshot from the late 1730s, for example, research commissioned by the Church itself found it was investing the equivalent of more than $530m in today's terms in the South Sea Company.

That was responsible for shipping tens of thousands of slaves from Africa to the Spanish colonies. It is estimated around 15% of them died on the torturous journey.

Archbishop of Canterbury Justin Welby has apologised saying it is a source of shame that some in the Church actively supported and profited from the slave trade - and that he prayed for those affected by this news.

The Church of England says a group will now be set up to decide what its response should be. But a spokesperson would not be drawn on whether that included a discussion about reparations.

Source: BBC