British Prime Minister Rishi Sunak is considering freezing the foreign aid budget for another two years, the Telegraph reported yesterday, citing well-informed sources.
UK spending on foreign aid is set at 0.5% of national income. Two years ago, the government cut spending on foreign aid due to the blow to the British economy due to the coronavirus (Covid-19) pandemic.
Sunak, who was finance minister at the time, said last year that foreign aid spending should return to 0.7% of output compared to fiscal year 2024-2025.
However, according to the Telegraph report, the possibility of extending the reduction in foreign aid spending for another two years, until the 2026-2027 fiscal year, is being considered.
The Sunak government is pushing for spending cuts and reversal of tax cuts at a time when rising costs for mortgages, food, fuel and heating are hitting British household budgets.
Reuters indicates that the UK Treasury did not immediately respond to a request for comment.
Source: APE-ME, REUTERS
Source: Kathimerini
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