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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Visibilia Editore S.p.a.    VE   IT0005365223

VISIBILIA EDITORE S.P.A.

(VE)
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Delayed Quote. Delayed Italian Stock Exchange - 11/27 11:35:33 am
0.128 EUR   --.--%
11/21Cutting aid budget would hit UK influence, two former PMs say
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Cutting aid budget would hit UK influence, two former PMs say

11/21/2020 | 05:26am EST
FILE PHOTO: Lord Ashdown Memorial Service at Westminster Abbey

LONDON (Reuters) - Two former British prime ministers have urged Boris Johnson to retain the government's spending on foreign aid, warning he will damage the UK's influence on the global stage if he cuts it in a finance review next week.

Tony Blair and David Cameron released a statement to the Telegraph newspaper urging Johnson to maintain Britain's pledge to spend 0.7% of GDP on aid and development following reports it could be cut to conserve cash during the pandemic.

British finance minister Rishi Sunak will deliver a spending review on Wednesday, setting out government spending over the next year after COVID-19 blew a 200 billion pound hole in the country's finances.

"Abandoning the 0.7 target for aid would be a moral, strategic and political mistake," Cameron, prime minister from 2010 to 2016 and a member of Johnson's Conservative Party, said.

The two former leaders argued that any move to cut spending on aid would undermine Britain's position when it hosts the G7 summit in 2021. The decision comes as the country embarks on a new future outside the European Union.

Blair, a Labour prime minister from 1997 to 2007 who introduced the 0.7% target, said the spending had tackled disease, boosted education and helped to increase living standards across large swathes of Africa.

"This has been a great British soft power achievement," he said. "It isn't about charity. It's enlightened self-interest.

"Neither the challenge of climate or coronavirus can be met without Africa. Nor can those of extremism and uncontrolled immigration. To change it is a profound strategic mistake, and I sincerely hope the government will not do it."

Johnson was asked on Wednesday during his weekly question session in parliament to rule out a cut to the aid budget, and declined to do so.

(Reporting by Kate Holton; Editing by Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX -1.06% 501.92 Delayed Quote.-5.57%
S&P AFRICA 40 INDEX -0.87% 162.67 Delayed Quote.-5.02%
VISIBILIA EDITORE S.P.A. 0.00% 0.128 Delayed Quote.-62.79%
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11/21Cutting aid budget would hit UK influence, two former PMs say
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Financials
Sales 2019 4,32 M 5,15 M 5,15 M
Net income 2019 -1,52 M -1,81 M -1,81 M
Net Debt 2019 1,84 M 2,19 M 2,19 M
P/E ratio 2019 -1,22x
Yield 2019 -
Capitalization 2,90 M 3,45 M 3,45 M
EV / Sales 2018 0,76x
EV / Sales 2019 0,48x
Nbr of Employees 7
Free-Float 99,3%
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NameTitle
Daniela Garnero Santanchè Chairman, President & Chief Executive Officer
Canio Giovanni Mazzaro Director
Davide Mantegazza Independent Director
Dimitri d'Asburgo Lorena Director
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