Faith and the Community - Faith and Economy

Religion has a key part to play in ensuring economic recovery

This was the headline of an independent article on 3 April 2009. The article said faith could offer hope and religious organisations can offer practical support to counteract the effect of the recession.

While some optimistically predict the current recession will be over in three months, others pessimistically site up to five years until the economy turns round with the after effects on people’s savings and moral continuing long after. Previous recessions have corresponded with an increase in depression, suicide rates, drug and alcohol dependence, divorce, and higher crime levels.

No one knows for certain how long or how large the reprecussions of this recession will be but we do know that it has already started to have an effect on people’s lives with an increase in unemployment and the loss of people’s savings and pensions. Many people feel trapped with debts and negative equity or with poor job prospects.
  • Who do you know who is affected?
  • What hope can your religious organisation offer?
  • What support can you provide?

Advice for Faith Leaders

On 27th April 2009 an inter faith conference was held in Waltham Forest titled “Economic Crisis – Causes and Response: Thinking and Acting Together”. Faith Leaders met togehter and discussed the importance of sensible money handling and positive steps that faith groups can take during times of high unemployment and /or inflation. We looked at practical steps that faith communities can offer including
  • Challenging the culture of debt and borrowing and encourage people to live within their means and save for the future. This can be affirmed through religious texts.
  • Prayer - to avoid further upset this should be “for those facing hard times” and not “for Mr Smith who is now unemployed”)
  • Volunteering opportunities – the structure and the meaning which can be found through volunteering can help people to stay focused and optimistic
  • Someone to talk to – listen and affirm. Financial insecurity has links with depression and low self esteem which can reduce the chances of future employment
  • Get involved with and sign post people to organisations who offer advice, guidance and practical support to those most in need such as:
    • Branches Night Shelter,
    • Christians Against Poverty or the
    • Waltham Forest Credit Union