Former UK Health Secretary Jeremy Hunt has warned that Britain will not reach its spending targets for overseas aid for another five years. Hunt, who is now a backbench MP, made the statement while speaking to the Treasury Select Committee. According to Hunt, billions of pounds will be spent domestically instead of being allocated to the foreign aid budget. The decision to reduce overseas aid spending from 0.7% to 0.5% was announced by Chancellor Rishi Sunak in 2021 as a temporary measure to address the financial impact of the pandemic, saving approximately £4 billion.

"I don't think the fiscal position makes it possible"

When questioned about hitting the aid target in the next five years, Hunt admitted that he did not believe it was possible due to the current fiscal position. However, he emphasized the government's commitment to meeting the target when it becomes affordable to do so. Hunt also expressed his doubt about budgeting for the target within the next five years.

Taxpayers' Alliance CEO welcomes Chancellor's common sense

John O'Connell, CEO of the TaxPayers' Alliance, praised Chancellor Sunak's decision, stating that taxpayers would appreciate his common-sense approach to controlling spending. O'Connell suggested that ministers should consider scrapping the 0.7% target altogether and instead focus aid spending on genuine humanitarian emergencies.

Former Prime Minister David Cameron's u-turn on aid budget

Former Prime Minister David Cameron, who had previously enshrined in law that 0.7% of GDP be spent on overseas aid, condemned the reduction to 0.5%. However, he has now changed his stance, describing himself as a "realist" on lowering the budget.