Why when our lovely (not) chancellor announce the drive to bring down governmental spend did our overseas aid budget not get the chop, for that is the real question especially when we send billions of pounds to third world countries, including India. That money alone would help out faltering economy get out of the problems.
We all have read online or in the papers on watched on tele the fact we are sending money to countries that are spend 50 million pounds on sending an unmanned probe to Mars. To that I say good luck, but today I read they are buying three warships for a billion pounds and have already signed a contract with a french company to supply 126 fighter jets. They, the Indian government, have said they do not really need the 280 million we send then and think of it as peanuts.
The money saved by not sending it to India would be a good start if it went on supporting SMEs that are having problems raising money through the banks. The government could easily set up a similar scheme to the student loans and provide ZERO Interest loans to start-up companies only to be repaid when the business is earning a certain amount, similar to the system used to repay student loans.
Our government should seriously start to look at what countries actually need help rather than keep giving money to countries that no longer need it.
I will send an FOI request to the department overseeing the overseas aid budget and get them to send out the list of countries and the amount we actually send.
This does not even start on the amount we give to European Central Bank and the IMF to bail out countries in financial difficulties, all because the banks wanted to make themselves lots of money on the back of the housing boom.