Last Updated Oct - 29 - 2022, 04:51 AM | Source : Fela News
Rishi Sunak: Britain's spending on foreign aid is set at 0.5% of national income.
New British Prime Minister Rishi Sunak is considering freezing the country's foreign aid budget for an additional two years, the Telegraph reported on Friday, citing sources.
Britain's spending on foreign aid is set at 0.5% of national income. The government had cut its foreign aid spending two years ago as the country faced a huge hit to public finances due to the coronavirus pandemic.
"All spending decisions will be considered in the round by the Prime Minster and Chancellor at the Autumn Statement," a UK Treasury spokesperson said in a statement.
Sunak, who was finance minister at the time, had said last year that foreign spending should return to 0.7% of economic output by 2024-2025.
However, according to the Telegraph report, officials are considering extending the foreign aid spending cut by another two years to 2026-2027.
The report added there was scope for deeper cuts along with an option to peg foreign aid spending to inflation for three years in the future.
The report comes as the government draws up spending cuts and cancels tax cuts as the rising cost of mortgages, food, fuel and heating squeezes many household budgets.
Sep - 01 - 2025
There’s something undeniably romantic about keeping life's biggest moments away from the glare of the public eye. Nargis Fa... Read More
Sep - 01 - 2025
A seemingly ordinary photo op at the Shanghai Cooperation Organisation (SCO) Summit turned into a subtly dramatic moment when Ind... Read More
Sep - 01 - 2025
A late-night tremor in Afghanistan’s eastern provinces turned catastrophic when a magnitude-6.0 earthquake struck near Kuna... Read More
Sep - 01 - 2025
Homeland Security Secretary Kristi Noem recently dropped a line that carries weight “nothing is off the table.” That&... Read More
Aug - 30 - 2025
In a dramatic legal setback, a U.S. federal appeals court has declared that many of former President Trump’s sweeping tariffs are unlawful. T... Read More
Aug - 30 - 2025
It’s a moment to cheer for India homegrown craft beer brand Simba has made its mark at the 2025 World Beer Awards, bagging a Silver for Simba... Read More