Foreign aid rule change could free up £1.5billion

A SHAKE-UP of foreign aid spending rules could free up £1.54billion for cash-strapped departments, a report has claimed.

Britain currently spends far more than its 0.7 per cent target of national income on aid-related projects, according to the study. The Global Britain report said a broader definition of ‘international development’ would lead to savings of up to £1.54billion.

Former foreign secretary Boris Johnson, who wrote a foreword to the report, backed calls for a radical overhaul of the overseas aid budget.

Money spent which does not meet the criteria of aid includes £270million on peacekeeping missions. The Department for Business, Energy and Industrial Strategy spent £575million on overseas projects in 2017/18 but that did not count towards the 0.7 per cent.

The report was drawn up by Tory MP Bob Seely. Mr Johnson said that with the UK committed to spending 0.7 per cent – more than £13billion – that money needed to work more in tune with Britain’s interests.

Theresa May’s official spokesman said: ‘She has been repeatedly clear that we will honour our commitment to meet the 0.7 per cent target.’