London Daily

Focus on the big picture.
Thursday, Jun 11, 2026

Billionaires Gates & Soros reportedly step in to cover fraction of foreign aid cut by UK, but some question their intentions

Billionaires Gates & Soros reportedly step in to cover fraction of foreign aid cut by UK, but some question their intentions

In an apparent attempt to shame Boris Johnson’s government for its decision to cut Britain’s foreign aid, the who's who of the world of billionaire philanthropy are said to have pledged to cover a small part of the diverted money.

A group of international charities this week pledged to invest £93.5 million ($130m) into causes that will be missing money from the UK this year. The temporary funding will go to poor countries including Bangladesh, Ethiopia, Kenya, Malawi, Mozambique, Nepal, Nigeria, Sudan, South Sudan, Tanzania, Uganda and Zambia. It will be spent on programs including ones that treat neglected diseases and offer contraception.

The move, first reported by the Times on Sunday, is meant to shame the British government over the decision it took last year to reduce foreign aid. Previously, London allocated around 0.7% of the UK Gross National Income (GNI) to foreign assistance programs, but the Johnson cabinet cut this to 0.5%.

The 0.7% GNI benchmark was adopted as a target in the 1970s, when it was recommended by the UN, and made into law under the David Cameron government in 2015. Johnson’s reduction is estimated to amount to £4 billion ($5.56b) in 2021.

The aid cut, which was announced last November, was opposed by some members of Conservative Party, including former prime minister Theresa May who refused to make such cuts during her tenure. Then-foreign office minister Baroness Sugg resigned in protest when the measure was announced.

While many critics argue that denying struggling people funding for lifesaving assistance is contrary to Britain’s moral values, some politicians framed their opposition as a geopolitical calculation.

“When Britain withdraws, others step in. By cutting our aid, we have given states such as China and Russia an opportunity to expand their influence at Britain’s expense,” argued Tom Tugendhat, the Tory MP who chairs the Foreign Affairs Committee. “In fragile and conflict-affected states, UK cuts to humanitarian crises give space for our rivals to convince our friends we don’t matter.”

There has been a push in Parliament to put the reduction of aid to a vote, which the Johnson cabinet has so far successfully resisted. The government tried to appease detractors, saying the measure was temporary and was necessary to invest more into domestic spending.

Philanthropists and some legislators may be vocally objecting to the aid cut, but the measure was quite popular among the British public. A YouGov poll taken at the time it was announced showed that 66% of Britons were in favor. Giving away 0.7% of the GNI made Britain among the most generous countries in the world under the metric. Critics have long doubted that the British taxpayers' money was doing as good a job as it should have.

Unsurprisingly, this week’s shaming attempt was met with some pushback, especially considering the personalities behind the participating charities. Microsoft founder – and “self-appointed world health tsar,” according to critics – Bill Gates led the charge through his Bill and Melinda Gates Foundation.

The list of backers also includes the Children's Investment Fund Foundation, created by billionaire hedge fund manager Chris Hohn, the quiet philanthropy heavyweight ELMA Group of Foundations, the brainchild of South African-born British record magnate Clive Calder, and George Soros’ Open Society Foundations.

Critics brushed the initiative aside as a failing self-promotion attempt and the latest example of billionaires trying to privatize public policy.



Newsletter

Related Articles

0:00
0:00
Close
University College London Study Links Physical Punishment to Higher Risk of Bullying
East Midlands Railway Unveils First Refurbished Train in £60 Million Modernization Programme
RNLI Issues National Water Safety Appeal Ahead of Expected Heatwave
Climate Change Raises Subsidence Risks for Millions of Homes Across Southeast England
Manchester Advances Plans for Underground Piccadilly Station With £1 Million Funding Commitment
Anti-Immigration Violence Continues in Belfast Amid Heightened Security Concerns
UK Law Locks Great British Railways Into Public Ownership
Office for National Statistics Adopts Supermarket Checkout Data for Inflation Measurement
Applied Atomics Launches With $500 Million Space Infrastructure Order Book
BYD Plans Nationwide Rollout of Ultra-Fast EV Charging Network
UK House Prices Unexpectedly Fall in May
CBI Warns UK Growth Is Becoming Increasingly Dependent on Public Spending
Makerfield By-Election Fuels Speculation Over Labour’s Future Leadership
Britain Declines to Join EU SAFE Defence Fund
UK Unveils 2040 Emissions Target Despite Strong Political Opposition
Government Orders Full Review of Palantir’s NHS Data Contract
UK Borrowing Costs Climb as Markets Price in Further Bank of England Rate Rises
Resident Doctors Confirm Five-Day NHS Strike Across England
Violent Anti-Immigrant Riots in Belfast Spark Political and Diplomatic Tensions
United Kingdom Sees Recovery in Horizon Europe Research Funding Share to 9.3 Percent
UK Inflation Holds at 2.8 Percent as Office for Budget Responsibility Flags Persistent Price Pressures
United Kingdom Launches National Anti-Fraud Framework to Combat Rising Pension Scam Losses
United Kingdom Expands Sanctions on Israeli Groups While Funding Palestinian Authority Salaries and Gaza Mine Clearance
United Kingdom Issues Three-Month Ultimatum to Major Technology Firms Over Child Online Safety Controls
United Kingdom Government Moves Toward Blanket Social Media Ban for Children Under Sixteen
Widespread Anti-Immigration Rioting Erupts Across Belfast After Knife Attack Linked to Asylum Seeker
Farmers Warn of Crop Losses Following Months of Unseasonal Rainfall
Civil Aviation Authority Launches Review of Regional Airport Operations
Met Office Issues Heat-Health Alert Across Parts of England
National Grid Introduces New Measures to Protect Winter Energy Supply
Northern England Rail Upgrades Receive Additional Government Funding
Wales Advances Green Hydrogen Strategy to Decarbonize Heavy Industry
UK Expands Recruitment Incentives to Address Shortage of STEM Teachers
High Court Opens Door to Climate Liability Claims Against Major Industrial Emitters
Police Service of Northern Ireland Investigates Major Personnel Data Breach
Defense Ministry Overhauls Procurement System to Accelerate AUKUS Submarine Program
Net Migration Remains Above Government Expectations, New Data Shows
UK and Scottish Governments Agree Framework for Expanded North Sea Wind Development
UK Treasury Launches New Tax Incentives to Boost AI and Semiconductor Investment
Bank of England Signals Continued Caution on Interest Rate Cuts
UK Unveils £10 Billion NHS Digital Modernization Plan Centered on AI Integration
Nebius Opens Major Robotics and Physical AI Laboratory in London
Bank of England Data Shows Strong Rise in New Mortgage Approvals
Network Rail Completes Landmark Upgrade of Severn Tunnel Rail Infrastructure
East West Rail Passenger Services Between Oxford and Milton Keynes Set for December Launch
GlaxoSmithKline Reportedly Pursues £7 Billion Acquisition of US Cancer Drug Developer Nuvalent
Bank of England Signals Interest Rates Likely to Remain Unchanged Despite Energy Market Risks
NHS Trusts Launch Job-Cutting Programmes as Financial Pressures Intensify Across England
More Than 130 Labour MPs Urge Ban on Trade With Israeli Settlements
Keir Starmer Orders Technology Firms to Introduce Smartphone Nudity Controls for Under-18s
×