EU Aid deal, a good starting point but not nearly good enough

4.00.00pm BST (GMT +0100) Wed 25th May 2005

EU Aid deal, a good starting point but not nearly good enough

Yesterday the richest fifteen EU member states agree to set a new spending goal in the fight against world poverty. The new spending goal of 0.51% by 2010 is a good starting point but not nearly good enough, especially when you consider that four EU countries have already achieved the UN target of 0.7%.

Not only should all richest EU countries should pledge to meet the UN target of 0.7% before the target of 2015, but too look to exceed that and aim for 1% which in my opinion is not unreasonable and should be a base level for wealthy nations.

What many commentators have overlooked is the EU's newest ten members have pledged to meet 0.17% by 2010 and 0.33% by 2015. I welcome this even more as until recently these countries have been recipients of development aid money.