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London decided to cut external costs
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For a long time, Great Britain spent 0.7% of its GNP on aid to foreign countries in accordance with the UN recommendations.
The British Parliament supported on Tuesday the government’s proposal to reduce aid to foreign countries from 0.7% to 0.5% of GNP. This initiative was supported by 333 deputies, 298 opposed it. On Tuesday, July 13, reports TASS.
According to the amendment, already this year, many countries that have received financial assistance from London for years will lose about $ 6 billion from the kingdom.
It is reported that spending has been cut due to the coronavirus pandemic, which has hit the UK economy hard enough. At the same time, the government clarifies that this measure will be temporary and declare its readiness to return to the previous level of spending after a significant reduction in the volume of public debt and the need for borrowing to replenish the budget.
The ex-Prime Minister of Great Britain (2016-2019) Theresa May, who is now an ordinary deputy, criticized the cuts in spending. The cut in aid, she said, would hit poorer countries significantly, leaving many people “even more disastrous than they are today.” May’s predecessor David Cameron also supported her.
In turn, the current head of government of the country Boris Johnson noted that such a step is necessary due to the difficult economic situation, and promised that the Ministry of Finance will annually consider the possibility of returning to the previous target.
The Cabinet of Ministers emphasizes that only 14 countries of the world have ever sent 0.7% of GNP or more to international aid, and draws attention to the fact that in 2020 only Germany spent more on aid to other countries than the United Kingdom ($ 29 billion against $ 19 billion).
Recall that in order to receive the second tranche of macro-financial assistance from the EU, the Ukrainian side must complete a set of agreed policy measures.
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