A threat of a national financial protest by the evangelical wing of the Church of England against the appointment of the first homosexual bishop will force the Church to face financial ruin.

If Dr. Jeffrey John is consecrated as the new Bishop of Reading in October, worldwide protests will most definitely cause a schism in the Anglican Church. If so, the Church of England will lose millions of pounds of revenue which are contributed by evangelicals. Over 40 percent of the ?’400 million raised for the Church by parishes each year are contributed by evangelicals.

"The liberals have now forced us into a position where we have to act," said Rev. George Curry, the head of a leading evangelical group within the Church of England. "I think people across the country have to make a gracious and principled stance against this appointment. They have to say that they are not going to financially support the work of those dioceses who do not stand up against this appointment."

A spokesman from another evangelical group said, "Events in Oxford will be a catalyst. This is obviously going to have financial and pastoral implications for the Church. There will be many people in Oxford and across the country who because of this appointment would rather not be in communion with the Archbishop of Canterbury anymore."