Coronavirus has triggered a deep crisis. While rich country governments have responded in various ways, they have all used their significant wealth to protect society from real crisis, to some extent. Governments in the global south have often not had that option. In fact, many are struggling with mass debts run up in the aftermath of the 2008 financial crash. During the pandemic, they have been forced to pay some of the richest banks and hedge funds in the world while their people suffer.
As part of a coalition, we pushed the UK government to prioritise debt relief, including by forcing the major banks and financial institutions to cancel debt. So far up to $12 billion of debt payments have been suspended as a result.
Unbelievably, our government has used this moment to slash overseas development spending and abolish the department which could mitigate some of these problems. Together we opposed the disastrous attack on the Department for International Development and the aid budget and managed to save parliament's international development committee, meaning MPs will be able to scrutinise future aid spending properly.
Our research exposed the shocking ways in which our government diverts UK aid to benefit British businesses, worsening inequality and negatively impacting on human rights. Thousands of us signed a petition opposing the corporate hijack of aid and we were quoted on the front page of the Times reporting on the UK’s investments in luxury hotels.
This month Boris Johnson finally announced that the UK will end public investment in fossil fuel projects overseas. Over the summer many of us called on the government to end all its fossil fuel financing. While the announcement is a welcome step, there are loopholes allowing some large-scale projects to still go ahead. As we head into 2021 with the UN climate talks in Glasgow on the horizon, we have a new chance of fighting to end all investments in fossil fuel projects overseas.
We have made the US trade deal one of the most toxic issues in politics
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