Thank heavens for Justin Welby!

For decades, interventions of the Archbishop of Canterbury in national debate were like a sporadic bombardment of small pebbles against the door of Downing Street. Justin Welby has changed all that. This week, payday loan companies are facing reform (or in some cases oblivion) as new caps on interest payments come into effect. That the industry finds itself in this position is thanks, in no small part, to it having been hooked around the neck by the Archbishop’s crosier.

Welby has inspired reform of the industry not by trying to set himself up as the leader of the opposition in a cassock, but by acting as an effective leader of the Church of England. His approach to the payday loan industry was not to demand that it be banned, he being aware that an even darker industry of doorstep loan sharks would replace it, but to compete with it head on.