Figures from the Conservatives show that the pound\’s fall over the past 18 months has effectively reduced the value of British aid by up to £334 million.
Since June 2007, when Gordon Brown became Prime Minister, the pound has depreciated against the dollar by 22 per cent.
This has had a knock-on effect of hitting the value of the pound in some of the world\’s poorest countries.
The pound is also down a fifth against the Bangladesh taka, effectively cutting British aid by around £28 million and down by 19 per cent against the Tanzanian shilling, cutting aid by around £24 million.
Against the Nigerian naira, the pound is down 17 per cent, effectively cutting British aid by around £27 million.
Yes, we know what they mean, that the decline in the pound has meant that the same number of pounds sterling buys fewer real goods than they did before. But the value of British aid in sterling is exactly the same as it was before.
Also worth noting that no one was suggesting that we cut the aid budget when sterling was rising….