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Free AccessFormer PM May Joins Conservative Rebels As Gov't Risks Defeat On Aid Cuts
This morning reports emerging of a further 14 Conservative MPs committing to voting against the gov'ts proposed cuts to international aid spending.
- Former Prime Minister Theresa May is believed to be one of the potential rebels, now numbering 30 in total.
- The rebels are looking to attach an amendment to a law setting up a new Advanced Research & Invention Agency (Aria) - based on the US DARPA body - that would reverse the gov'ts ability to legally lower the UK gov'ts spending on foreign aid from 0.7% to 0.5% of GNI. The gov't has argued the cut is necessary due to the impact of the pandemic on UK finances, but rebels state a cut in international aid at this time is both morally wrong and would damage the UK's standing abroad.
- In order to defeat the gov't, 44 Conservative MPs would be needed to break the whip and vote down the aid cuts given the working majority for PM Boris Johnson's gov't stands at 87 seats.
- All eyes will be on Commons speaker Sir Lindsay Hoyle on Monday 7 June on whether he selects the amendment for debate and to be voted on.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.