Taking a different approach to foreign aid
Every year, Britain appropriates 0.7 per cent of its GDP to foreign aid, including to nations such as China, Brazil, and India. While these nations have incredible gaps between rich and poor, they also are countries where economic growth has largely escaped the recession. For some, this begs the question of why they continue to receive any financial aid.
Writing in the London Telegraph, columnist Ruth Porter argues that the very nature of foreign aid needs to be reevaluated based on merit and outcome, not simply out of habit.
Porter suggests establishing an emergency fund dedicated for disaster relief, more foresefully advocating free trade, and “abolishing CAP and its counterproductive farm subsidies and getting rid of the myriad of environmental regulation that has a stranglehold on the development of new technologies.”