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Free AccessGov't Wins Vote On Foreign Aid Cut With Majority of 35
The UK gov't has won a vote in the House of Commons confirming its ability to reduce the level of foreign aid spending from an amount equivalent to 0.7% of GNI to 0.5% of GNI.
- The gov't won the vote 333 to 298, a majority of 35. This is compared to the nominal working majority of the gov't standing at 83.
- A number of former Conservative ministers voted against the gov't, including former PM Theresa May.
- While PM Boris Johnson will be relieved at having won the vote, the reasonable number of Conservative MPs willing to vote against the gov't will come as some concern.
- Many of those voting against the aid cut hail from the more centrist wing of the parliamentary party, which - while not being particularly close to Johnson in ideological terms - has been relatively loyal to him during the pandemic. This vote signals the detente could be coming to an end.
To read the full story
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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.