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Wonga embarrassment for Welby

The Archbishop of Canterbury told Wonga the Church of England wants to "compete" it out of existence. It was then revealed the two are linked.

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Archbishop's anger over church's links to Wonga

The Archbishop of Canterbury, Justin Welby, has spoken of his embarrassment that links between the Church of England and pay-day lender Wonga have revealed.

The former Bishop of Durham had yesterday promised to take on lenders like the Newcastle United sponsor.

He said he would compete it out of business by promoting credit unions as an alternative to pay day lenders.

The Archbishop said he was irritated and embarrassed after it emerged that the Church of England indirectly invested in the payday lender.

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