Archbishop embarrassed by Church Wonga investment

The Archbishop of Canterbury has admitted he is embarrassed by the revelations that the Church of England pension funds indirectly funded in online lender Wonga.

Asked by John Humphrys on BBC Radio 4 Today's programme whether he was embarrassed, he replied "yes."

Asked to place his embarrassment on a scale of one to 10, he said: "Eight."

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Welby: Wonga 'embarrassment'

The Archbishop of Canterbury has admitted he is "embarrassed" and "irritated" after learning the Church of England indirectly invests in online lender Wonga - the focus of Justin Welby's criticism over payday loans yesterday.