December 16, 2017
Home Conservative Party ‘Fundamentally WASTEFUL’ Jacob Rees-Mogg blasts Cameron and Osborne’s foreign aid farce

‘Fundamentally WASTEFUL’ Jacob Rees-Mogg blasts Cameron and Osborne’s foreign aid farce

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‘Fundamentally WASTEFUL’ Jacob Rees-Mogg blasts Cameron and Osborne’s foreign aid farce

TORY Party grandee Jacob Rees-Mogg has given his backing to the Daily Express crusade to Stop The Foreign Aid Madness.

The Brexit-supporting MP, tipped as a future party leader and Prime Minister, said spending a set percentage of our national income overseas was political posturing.

His intervention comes as support for our campaign grows by the day with 30,000 postal coupons arriving at our headquarters while thousands more sign our online petition.

Mr Rees-Mogg, 48, said: “I fully support the Daily Express campaign.

“The [foreign aid] target was a piece of political showmanship from David Cameron and George Osborne.

“We should help in emergencies, and by facilitating investment and trade, but beyond that it is fundamentally wasteful.”

And the influential politician agrees with millions of ordinary Britons that the Government’s arbitrary target of spending 0.7 per cent of our national income overseas is folly.

Last year our foreign aid commitment came to an eye-watering £13.3 billion.

Our army of readers wants to see funding and capacity issues urgently addressed in the crisis hit NHS, social care and elderly services instead of billions of pounds frittered away on projects with little merit or reward for taxpayers.

North East somerset MP Mr Rees-Mogg said: “A further problem with our overseas aid budget is that to reach the target it has to be spent in a specific calendar year before the GDP figure is available.

“As is well known, predicting economic growth is rarely accurate and so DFID has to spend 0.7 per cent of a figure that is not finally known until some months after the money has been spent.

“Vagaries in economic growth during the year can easily lead to overspending as the Government seeks to hit a moving target.

“The obligation is not to underspend so the incentive can be to shovel money out of the door as the end of December looms.

“Importantly, other than the limited contributions via the CDC, the funds may not be invested for longer term economic growth which could conceivably bring a return to the British Government.

“Thus the target is more easily met by spending money on the Ethiopian Spice Girls rather than a long term investment in electricity generation which would be beneficial both to the inhabitants of a poor country and if the experience in investing in Asia in the 1990s is anything to go by to the investor as well.”

He added: “Overall the Government should encourage trade and remove barriers which will be easier after Brexit, support international investments and be willing to be generous in the event of emergencies.

‘Fundamentally WASTEFUL’ Jacob Rees-Mogg blasts Cameron and Osborne’s foreign aid farce

TORY Party grandee Jacob Rees-Mogg has given his backing to the Daily Express crusade to Stop The Foreign Aid Madness.

Rees-Mogg Vs CameronGETTY

Jacob Rees-Mogg has branded current foreign aid ‘wasteful’

The Brexit-supporting MP, tipped as a future party leader and Prime Minister, said spending a set percentage of our national income overseas was political posturing.His intervention comes as support for our campaign grows by the day with 30,000 postal coupons arriving at our headquarters while thousands more sign our online petition. 

Mr Rees-Mogg, 48, said: “I fully support the Daily Express campaign.

“The [foreign aid] target was a piece of political showmanship from David Cameron and George Osborne.

“We should help in emergencies, and by facilitating investment and trade, but beyond that it is fundamentally wasteful.”

**CLICK HERE TO SIGN THE PETITION AND END THE FOREIGN AID MADNESS**

Jacob Rees MoggGETTY

Jacob Rees-Mogg is in complete support of our aid crusade

The [foreign aid] target was a piece of political showmanship from David Cameron and George Osborne

Jacob Rees-Mogg

And the influential politician agrees with millions of ordinary Britons that the Government’s arbitrary target of spending 0.7 per cent of our national income overseas is folly.Last year our foreign aid commitment came to an eye-watering £13.3 billion.

Our army of readers wants to see funding and capacity issues urgently addressed in the crisis hit NHS, social care and elderly services instead of billions of pounds frittered away on projects with little merit or reward for taxpayers.

North East somerset MP Mr Rees-Mogg said: “A further problem with our overseas aid budget is that to reach the target it has to be spent in a specific calendar year before the GDP figure is available.

“As is well known, predicting economic growth is rarely accurate and so DFID has to spend 0.7 per cent of a figure that is not finally known until some months after the money has been spent.

“Vagaries in economic growth during the year can easily lead to overspending as the Government seeks to hit a moving target.“The obligation is not to underspend so the incentive can be to shovel money out of the door as the end of December looms.

“Importantly, other than the limited contributions via the CDC, the funds may not be invested for longer term economic growth which could conceivably bring a return to the British Government.

“Thus the target is more easily met by spending money on the Ethiopian Spice Girls rather than a long term investment in electricity generation which would be beneficial both to the inhabitants of a poor country and if the experience in investing in Asia in the 1990s is anything to go by to the investor as well.”

He added: “Overall the Government should encourage trade and remove barriers which will be easier after Brexit, support international investments and be willing to be generous in the event of emergencies.

“Setting an arbitrary target the exact amount of which is unknowable in advance is purely tokenistic and puts Government spin ahead of meeting real needs and shows greater compassion for a good headline than for good government.”The scandal of how billions of pounds of taxpayers’ money is handled and subsequently spent abroad by departments across Whitehall prompted the Daily Express to demand change in the law.

We believe Britain has a crucial role to play helping foreign countries flourish, but we need to put the interests of millions who are struggling here in the UK first.

Daily Express reader Peter Lawrence of Sherborne, Dorset, said: “Somehow we must get rid of the prevailing culture under which the poor British taxpayers are expected to take on the problems of the whole world.”

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