Spending more on aid was good for poor countries, but it was also good for rich countries such as Britain.
In today’s world, it is no longer possible to think of aid spending and defence spending as discreet pots of money.
A new debt crisis is looming, and both the International Monetary Fund (IMF) and the World Bank have been warning that money that could and should be spent on schools, hospitals and building protection against the effects of the climate emergency is instead being spent paying back creditors.
A truly progressive government would be reviving the idea of a Robin Hood tax on speculative financial transactions to meet its manifesto pledge of raising aid spending back to 0.7% of national income.
The US has always understood this, with postwar Marshall aid for European reconstruction in part driven by fear of the spread of communism and in part as a means to provide markets for US goods.
