UK could freeze foreign aid to balance country's books

New British Prime Minister Rishi Sunak is considering freezing the country's foreign aid budget for an additional two years, the Telegraph reported on Friday, citing sources, Report informs.

The amount the UK spends on international development has been set at 0.5% of national income, but this was expected to return to its usual level of 0.7% in 2024-25.

However, officials are considering extending that for another two years until 2026/27 – saving £4 billion a year.

Treasury officials also said that capital spending is likely to decline after 2024-25.