11/25/2020, 4:36 PM (Source: TeleTrader)
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UK's Sugg resigns over govt's cut to foreign aid

British Foreign Office Minister Elizabeth Sugg retired from her post following the news that the United Kingdom will cut the funds it provides to foreign territories from 0.7% to 0.5% of the country's gross domestic product (GDP).

Sugg took over the role earlier this year, and strongly opposed the move announced earlier in the day by Treasury Secretary Rishi Sunak, despite the impact that the coronavirus pandemic has made on the British economy. In exchanged letters with Prime Minister Boris Johnson, she called the decision "fundamentally wrong."

According to the Office for Budget Responsibility (OBR), the UK's economy is expected to plunge 11.3% this year.

Breaking the News / ND