Telegraph: Rishi Sunak considers ‘freezing’ foreign aid for another two years

British Prime Minister Rishi Sunak is considering “freezing” the budget for aid to foreign countries for another two years, the Telegraph newspaper reported yesterday, citing well-informed sources.

Britain’s foreign aid spending is set at 0.5% of national income. Two years ago, the government cut aid spending to foreign countries due to the blow to the British economy from the coronavirus (Covid-19) pandemic.

Sunak, who was finance minister at the time, said last year that aid spending to foreign countries should return to 0.7 percent of economic output from the 2024-2025 fiscal year.

However, according to the Telegraph report, the possibility of extending the cut in foreign aid spending for another two years, until the 2026-2027 fiscal year, is being considered.

The Sunak government is pushing ahead with spending cuts and canceling tax cuts at a time when rising costs from mortgages, food, fuel and heating are hitting British household budgets.

The Reuters agency points out that Britain’s Ministry of Finance did not immediately respond to a request for comment.

RES-EMP

Read the News today and get the latest news.
Follow Skai.gr on Google News and be the first to know all the news.