Banks must not sacrifice morality for profit, says Catholic leader


Writing
in The Sunday Telegraph, the Archbishop of Westminster also stresses the
need for greater support of the family and a focus on virtues, such as love
and compassion, that cannot be measured in economic terms.
He says that the next few years will be “difficult” and “painful”,
describing unemployment as “a grave social ill”, but argues that
they also offer an opportunity to improve our lifestyles.
“A key part of the change needed is to forge a cultural consensus in the
financial sector that its licence to operate depends on a clear and
demonstrable commitment to service,” the archbishop says.
“If the long term recovery of the financial sector depends on ethical
leadership, so too more generally does the health of the economy.”
He says that justice must be at the heart of George Osborne’s Budget to tackle
the widening social inequality in Britain.
There has been vast economic growth and prosperity over the last 15 years, he
says, but it has been accompanied by a rise in the breakdown of
relationships and a fall in levels of happiness.
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