It is deeply disappointing to be reducing foreign aid. This country has been and always will be open and outward-looking, playing a leading role in solving the world's toughest problems and striving to be a force for good in the world.
Whether it’s stepping up to support desperate Syrians and Yemenis in conflict zones, leading the way in eradicating Ebola and malaria, or supporting millions of children to gain a decent education, I am proud that UK aid has played such a prominent role in helping the world’s poorest. We can and must continue to do so.
In considering this reduction is important to take account of the following:
First, the UK finances are in a serious state. This year we will borrow around £400bn. To put that in context, the entire national debt (accrued over the course of the last 200 years) was around £500bn in 2007. Debt as a share of GDP is now higher than it was for Greece at the start of the 2007 economic crisis. Greece, you will recall, was less able to respond to that crash and suffered greatly, with healthcare spending slashed.
Second, this cut is temporary. Funding will be restored to 0.7% of GNI in due course.
Third, the UK has been hugely generous. Neither France, the US, Canda, Germany, Italy, Spain meet the 0.7% target. In fact, no other G7 countries do. Just the UK, Denmark, the Netherlands, Norway and Sweden have matched our commitment.
Fourth, we will continue to spend more generously than peer nations - more than £10bn next year to fight poverty, tackle climate change and improve global health. To put that in context, that is a sum roughly equivalent to the entire annual budget of the Ministry of Justice - which covers prisons, probation, the courts and legal aid.
Fifth, the UK will always respond generously to international crises. We allocated for example over £2.5bn to the Syrian crisis - the greatest humanitarian contribution in our history. It is a figure well above the £1.7bn annual total cost of legal aid for example, and is far, far more than provided by France.
This is not a competition. We should do the right thing regardless of others' stance. Equally, we should not downplay our country's contribution and willingness to show humanity and compassion, now and in the future. I look forward to the 0.7% target being restored in due course.
