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Loretta Minghella calls for value based economic reform at Davos

January 30 2012 - Christian Aid Director Loretta Minghella added her voice to calls for economic reform when she addressed a meeting at the Davos World Economic Forum in Switzerland on Thursday (26th).

Ms Minghella, the Chief Executive of the Financial Services Compensation Scheme during the bank failures of 2008, was invited to speak as part of the faith community.

‘Our economic models need to be built around the unique beauty of every person, the inherent dignity of every person, the infinite worth of every person,’ she said.

Earlier this month, at the Chaplaincy Lecture given to Alleyn’s School, in London, Ms Minghella called for a new economic model infused with a value system that doesn’t see the poor trampled by the need for ever more growth and financial prosperity.

She said: ‘It appears that the World Economic Forum is realising that we need new economic models based on sound values in order to make them sustainable.

‘That gives me some grounds for hope and a strong basis to challenge propositions which do not put equal value on all people.’

She added that ‘if growth is part of the answer, it has to be sustainable growth, and not growth that flourishes only at the expense of another’s wellbeing. 

‘We could go further, and say that what we really need to develop are business models that are pro-poor, where there are real incentives on business to improve the lot of the world’s poorest people. 

‘And systems of governance which ensure that Governments govern for the many and not for the few.’

Speaking from Davos this week she called for the good intentions expressed at the forum to be delivered on:  ‘We need now for the talk at Davos to be turned into action for the people around the world suffering from the scandal of poverty.’

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If you would like further information please contact Joe Ware on 0207 523 2418 or jware @christian-aid.org.

Notes to Editors:

1. Christian Aid works in some of the world's poorest communities in nearly 50 countries. We act where the need is greatest, regardless of religion, helping people build the lives they deserve.

2. Christian Aid has a vision, an end to global poverty, and we believe that vision can become a reality. Our report, Poverty Over, explains what we believe needs to be done – and can be done – to end poverty.  Details at http://www.christianaid.org.uk/Images/poverty-over-report.pdf

3. Christian Aid is a member of the ACT Alliance, a global coalition of 100 churches and church-related organisations that work together inhumanitarian assistance and development.  Further details at http://www.actalliance.org

4. Follow Christian Aid's newswire on Twitter: http://twitter.com/caid_newswire

5. For more information about the work of Christian Aid visit www.christianaid.org.uk