"The decision by the UK Labour government to reduce Overseas Development Assistance #ODA to (according to Starmer/Reeves logic) ‘pay’ for a rather dramatic increase in military expenditure is a classic example of how policy goes astray when mainstream economic thinking in general, and the British fiscal rules, specifically are used to guide policy."
"Wealthy nations are increasingly abandoning their desire to reduce world poverty and inequality and are instead using ODA for other purposes.
"For example, in recent years, Australia has diverted ODA funding from hospitals, education, infrastructure etc and pumped it into maintaining the privatised prisons on Manus Island and Nauru, where we have been sending people seeking refugee protection."
"The British government is not facing a financial shortfall in sterling other than the self-imposed fiscal rules.
"The fact that ODA expenditure does not really compete in terms of available real resources with military expenditure is also telling.
"Moving towards t
... show more"The decision by the UK Labour government to reduce Overseas Development Assistance #ODA to (according to Starmer/Reeves logic) ‘pay’ for a rather dramatic increase in military expenditure is a classic example of how policy goes astray when mainstream economic thinking in general, and the British fiscal rules, specifically are used to guide policy."
"Wealthy nations are increasingly abandoning their desire to reduce world poverty and inequality and are instead using ODA for other purposes.
"For example, in recent years, Australia has diverted ODA funding from hospitals, education, infrastructure etc and pumped it into maintaining the privatised prisons on Manus Island and Nauru, where we have been sending people seeking refugee protection."
"The British government is not facing a financial shortfall in sterling other than the self-imposed fiscal rules.
"The fact that ODA expenditure does not really compete in terms of available real resources with military expenditure is also telling.
"Moving towards the 0.7 per cent of GNI target for ODA is financially achievable even with an planned 0.2 per cent of GNI increase in military expenditure.
"The fact is that the British government can achieve both goals."
Bill Mitchell: billmitchell.org/blog/?p=62391
#development #immigration #Australia #neoliberalism #fetish #deficits #taxes #USAid #UK #Starmer #money #MMT #Labour #Britain
