Question

To ask the right hon. Member for Meriden, representing the Church Commissioners, what progress has been made on addressing the financial difficulties at Peterborough Cathedral; and if she will make a statement.

In addition to the answer given on 13 October 2016 to question 47672, on 6^th January 2017 the Bishop of Peterborough issued a visitation charge to the Cathedral Chapter and published his directions to improve governance at the Cathedral.
These include:

• A greater degree of accountability for the Chapter
• More involvement of the diocese, especially concerning financial oversight
• The Bishop has the right to attend Chapter meetings, receive meeting minutes and regular financial reporting
• Chapter members will receive increased training to prepare them for their role

The full charge from the Bishop can be found http://www.peterborough-cathedral.org.uk/userfiles/bishops-charge.pdf

One of the Cathedral Chapter's actions to address its financial difficulties has been to implement an orderly and phased property sales programme. Several properties are now under offer which will enable Chapter to reduce its borrowings and associated interest payments imminently.

A new Cathedral Management Team has been established to direct business activities and the Cathedral also plans to hold more events to raise income.