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"Money would be better spent in the UK instead of on overseas…
"Money would be better spent in the UK instead of on overseas development." Do you agree? Explain your answer.
primary economic problem
how to satisfy infinite wants and needs with finite resources
no way to definitively say what is the best things to spend money on.
opportunity cost
exchange rates
inflation
hyper-inflation
foreign governments
some developing countries may not like developed countries telling them how to live their lives
pollution from factories
industrial revolutions
social equality
spread of wealth
basic human needs
water
food
shelter
charities
volunteering
natural disasters
floods
earthquakes
tsunamis
hurricanes
tornados
forest fires
volcanic eruptions
talk about problems in the UK
poverty
homelessness
research how much money the UK spends in other countries every year
think of/research ways it could be spent in the UK to better our country
NHS
police
education
potholes
obesity
social care for pensioners
2016 - UK spent £13.4 billion on foreign aid
we have a target to spend 0.7% of our gross national income (GNI) on foreign aid
0.7% target was created in 1970
UK has been signed up to the target since 1974 but only achieved it for the first time in 2013.
in 2015 it was put into law that the government had to meet the 0.7% target.
there have been calls that the target should be scrapped
estimated that in 2021 we will spend £14.5 billion on foreign aid
about 15% of the money spent goes towards humanitarian aid, or crisis relief. the rest is focused on strategic or long term goals.
36% of the money goes to multilateral organisations such as the UN. the other 64% goes to bilateral organisations that work in specific countries or areas.
in 2016, the 5 biggest recipients of bilateral aid were
Ethiopia
Nigeria
Syria
Afghanistan
Pakistan
in 2016, the five biggest uses of bilateral aid were
education
health
government and civil society
multisector
humanitarian
£13.4 billion is roughly 1 tenth of what the government spent on health in England in 2016. it's a bit more than was spent on all police in England and Wales
spending counts as overseas development assistance/foreign aid if
it is spent first and foremost to promote economic development and welfare
it is spent by the government or government agencies
it is a grant, or loan that gives the borrower a much better deal than a loan at market rate
it goes towards a specific list of low and middle income countries, or institutions like the world bank.
political myopia
politicians are short term