Billions of pounds from Britain’s ballooning aid budget will be spent on helping Third World countries cope with climate change and adopt ‘green energy’, it was revealed last night.
David Cameron announced a 50 per cent increase in the amount of aid spending on the controversial initiative – taking the total to £5.8billion over five years.
That is the equivalent of the annual budget of the Ministry of Justice.
David Cameron announced a 50 per cent increase in the amount of aid spending on the controversial initiative – taking the total to £5.8billion over five years
Billions more has been spent over the past five years and in a decade Britain will have committed nearly £10billion – at a time of major cuts to public services at home. Half the money goes to encouraging poor countries to use green technology.
The remaining cash will help countries prepare for the impact of climate change, such as building sea walls or money for farmers to help them protect their crops against flood or drought.
The scale of the spending was laid out as the Prime Minister jetted to New York for a meeting of world leaders at the United Nations General Assembly.
There, he will parade Britain’s success in meeting its target for aid spending – currently £12billion a year and set to increase every year of the next Parliament – and urge other countries to match the target of 0.7 per cent of national income.
It comes ahead of another major summit in Paris in November at which countries will negotiate a new climate change deal.
The announcement yesterday commits £5.8billion from the aid budget to the International Climate Fund between April 2016 and March 2021. It will take the total expected spending over a decade to £9.67billion.
It comes ahead of an extremely tight spending review in which the budgets of major departments including the Home Office and the Ministry of Justice will be slashed by 20 per cent or more.
The new money is yet to be allocated, but a report in 2014 revealed examples of how it had been used, including a £100million forestry initiative in countries that included Brazil, which now has the seventh largest economy in the world.