News from Britain and Ireland

Leeds slashes spending and halts building projects to beat deficit

20 March 2014 | by Christopher Lamb | Comments: 0

The Diocese of Leeds has cut £800,000 from its central expenditure and put a freeze on parish building projects in order to balance its books, writes Christopher Lamb.The dramatic measures mean that for the first time in almost a decade the diocese will break even when its financial year ends at the end of this month. Accounts for the last financial year, filed last Friday with the Charity Commission, show the diocese’s expenditure exceeded its income by more than £2.7 million. They also record that the diocese has a £7.5m loan with HSBC and another loan with the Co-operative Bank for £3.2m. Leeds says that from the beginning of this year the capital on the loans is being repaid.The diocese has been without a bishop since June 2012 following the departure of ....... ....... ........ ........ ........ ........ ........ ........ ........ ........ ........

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