The new British Prime Minister Rishi Sunak is considering keeping the nation’s foreign aid budget out of disburement for two more years, reports The Telegraph.
British foreign aid spending is limited to 0.5 percent of national income. Since the country’s public finances had taken a significant hit as a result of the coronavirus pandemic two years prior, the British government reduced its spending on international aid.
By 2024–2025, according to Sunak, who was the finance minister at the time, foreign spending should revert to its previous level of 0.7 percent of GDP.
However, reported that officials are considering extending the cut in foreign aid funding by a further two years, until 2026–2027.
The report is released at a time when the UK is planning expenditure reductions and eliminating tax breaks due to the increasing cost of housing, food, fuel, and heating.
The Telegraph, however, reported that officials are considering extending the cut in foreign aid funding by a further two years, until 2026–2027.
The report also noted that there was room for even larger cuts and the possibility of indexing future foreign aid spending for three years to inflation.
The report is released at a time when the UK is planning expenditure reductions and eliminating tax breaks due to the increasing cost of housing, food, fuel, and heating.
Bd-pratidin English/Lutful Hoque
