UK Investment
The United Kingdom has a target to spend 0.7% of its gross national income on overseas development each year. The UN set the target of 0.7% in 1970, for all developed countries income to go towards foreign aid. The UK has only reached that target in 2013. It has been made a law as of 2015 for the UK government to reach the target of 0.7%. The UK economy is predicted to grow in the coming years and as a consequence of this the amount of foreign aid will increase. [14]
Where does the money go? [14]
Spending
Africa (51%)
Asia (41%)
36% of the money goes to multilateral organisations, e.g. the UN
15% of the money goes to humanitarian aid
The other 64% goes to programmes in specific countries as bilateral aid
5 Biggest Recipients
Afganistan
Nigeria
Pakistan
Syria
Ethiopia
UK's Aid Budget is the 3rd biggest [17]
The aid budget is under intense scrutiny, with other budgets such as healthcare and education being cut. The aid budget remains legally pegged which many disagree with. UKIP has proposed a cut of 80% on foreign aid, which amounts to around £13 billion a year. The generosity of the UK is viewed by some politicians as a key to the counties identity. [17]