Rishi Sunak confirms UK will increase money spent on poor overseas – but not until 2024

Rishi Sunak revealed today that Britain will redouble its spending on the world’s poor – but the increase was delayed.

boris johnsonThe government faced widespread criticism when it cut foreign aid Budget to divert cash to the UK from 0.7 per cent to 0.5 per cent of GDP in the summer.

But the chancellor confirmed today that the 0.7 percent rate would return, telling lawmakers that faster-than-expected economic growth allowed it.

Although critics pointed out that it would be brought back before the end of parliament in 2024/25, it was expected to bounce back a year later in 2023.

Although critics pointed out that it would be brought back in 2024/25 before the end of parliament, it was expected to bounce back a year later in 2023.

Mark Sheard, chief executive of children’s charity World Vision UK, said he is ‘delighted to see that the chancellor intends to return to our pre-pandemic commitment to official development aid – even if not until 2024/25’.

“Aid spending in developing countries is now more important than ever, thanks to the combined devastation of COVID-19 and climate change, and reaffirming this responsibility, reinforcing our place as Global Britain,” he said. They said.

Mr Sunak told MPs: ‘I told the House that when we finish our financial tests, we will spend 0.7 percent of our national income on foreign aid.

‘Some people said it was a trick or a trick. I told this House – there was no such thing. And based on the tests I set, today’s forecasts show that we are indeed set to return to 0.7 in 2024/25 – before the end of Parliament.’

The UK has long been one of the few countries to stick to the international target of providing 0.7 percent of national income to support spending.

But the government cut that level by 0.5 percent in July, which equates to a reduction of £4 billion.

After a stormy debate in the Commons, the government reduced the aid budget from 0.7 percent of GDP to 0.5 percent, by 333 votes to 298, a majority of only 35.

In the end 24 Tory lawmakers revolted, but their numbers included some big-hitter former ministers, including Theresa May, Jeremy Hunt, David Davis and Tobias Ellwood.

Mr Johnson promised the rate would return, but not until public finances stabilize from the damage caused by the pandemic.

The PM pointed out that the UK’s liability is almost 100 per cent of GDP and the next generation will have to pay the bill for the ‘once in a century devastation’ of Covid.

But Mrs May was among the Conservatives who announced she would vote against the government, something she has not done since leaving No. 10 in 2019.