Finance, Forex and Investments

Is Britain still giving away money it doesn't have in aid to India and China, whose economies still grow ?

Just how does our government justify giving away money it doesn't have even as the worlds financial markets are on the brink of downgrading the pound further on the back of truly dreadful government borrowing need predictions over the coming few years. Can our leaders actually do basic arithmetic ? Hi Paul...it's just a question...and are you sure your answer is correct ? It would be interesting what the overseas aid budget is for 2009.

Public Comments

1. Our government make me sick.The aid should be stopped.
2. We still give millions away to immigrants who only want to blow us up too.
3. No. However it doesn't sound as if you or the other answerers are really interested in what does or doesn't actually happen.
4. So what does Paul B know so much about that we don't ? Britain is bailing all in sundry and we are all paying for it with high taxes. It's time to get rid of this appalling Labour Govt. and start rooting out the wasters.
5. I managed to find this which perhaps gives you the substance you want: "India is currently the world’s 12th largest economy with a GDP of $1.171 trillion. On purchasing power parity the World Bank ranks them even higher — at position number 4, with a GDP of $3.092 trillion. They are widely expected to overtake the UK within the decade and rival the States by mid-century. Overall, it accounts for nearly 2% of the entire world’s GDP. This is the country, don’t forget, which last week sent their own rocket to the moon. Not even we can afford to do that. And yet we’ve just given them a pocket full of money. We have promised them £825 million over the next three years (from January 2008). £500m will be dedicated to health and education, and the rest will be used to train 300,000 new teachers and build 300,000 new classrooms — helping 4 million kids receive an education. All of this is very noble of course, and we wish their kids well — but surely this is something for the Indian government to sort out? Why do we have to provide a lump sum to prop up their education budget? I can understand us stumping up a bundle for famine relief and earthquake damage — because that is a time-sensitive emergency. But buying three billion books for their school kids to read is not my idea of aid." Also, this on China: "The superpower (China), which spent £20bn on last year's Beijing Olympics, received more than £38m in British aid in 2007" It just stinks!
6. Britain doesn't give aid to India and China. In fact China is one of the largest contributors of aid in the world. Who do you think the USA and the UK are borrowing money from.
7. Banksters. They are just paying eachother you know, and laughing at all of us.