(TheLibertyRevolution.com)- Conservative Prime Minister Boris Johnson may be planning to slash the foreign aid budget to pay for his country’s rising costs of managing the COVID-19 pandemic. Johnson is reported to be considered slashing the budget from 0.7% to 0.5% to help pay for the huge bills used to pay for hospital treatment of COVID-19 patients and millions of people who lost their jobs and businesses.
Though it seems like a small reduction, it would give the government of the United Kingdom a substantial amount of money to work with. I n2019, the UK sent £15 billion GBP, almost $20 billion USD, to foreign nations. While that figure would likely be different in 2021 owing to the fact that GDP has contracted during the COVID pandemic, a reduction of 0.2% could mean saving as much as £5 billion GBP ($6.6 billion USD).
British newspaper The Times said that the government was expected to inform its Parliament that the massive loss in revenue from businesses being forced to close down over the summer and into the winter has cost £210 billion GBP ($278 billion USD) and that making the cuts to the foreign aid budget are necessary this year. While it is likely to be supported by conservatives inspired by the wave of populism that got Boris Johnson elected less than a year ago, it is fairly likely that socialist Labour Members of Parliament will reject it.
Chancellor Rishi Sunak “pushing for spending on foreign aid to be reduced from 0.7% to 0.5% of gross national income” to help pay for the cost of Covid-19 pandemic https://t.co/Wx2lBwjoBn
— Matt Goodwin (@GoodwinMJ) November 17, 2020
Chancellor Rishi Sunak is reportedly the driving force behind the new proposals, and is expected to argue that it would be “politically disastrous” to continue on the course of giving billions of pounds to foreign countries while the UK has been forced to implement a second national lockdown.
In an attempt to make the cuts more palatable, however, Prime Minister Johnson may be considering making the cuts temporary. He is expected to argue that the UK government should return to spending 07% of GDP on foreign aid by 2022 – a move that wouldn’t give much time to the government to allow the economy to fully recover.
Who wants to bet Boris Johnson will get called a racist for this?