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The spirit of the G8 ‘make poverty history’ summit of 2005 seems long gone | Heather Stewart

about 20 hours ago
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Twenty years ago this weekend, the leaders of the world’s most powerful countries, chaired by Tony Blair, gathered at the Scottish golf resort of Gleneagles and made a series of historic promises on debt relief and overseas aid.It was the culmination of a long-running campaign involving charities, churches and celebrities and benefited from the passionate commitment of Gordon Brown, for whom international development is a lifelong cause.A few days before, more than 200,000 campaigners had gathered in Edinburgh and formed a noisy, joyful human chain, demanding that the world’s leaders “make poverty history”.As a result of the momentum created and the promises made, international aid increasedand 36 countries eventually had their crippling overseas debts drastically reduced.There are many reasons it would be hard to envisage a Gleneagles summit today.

The certainties of the early noughties, when globalisation felt like an unstoppable force underpinning economic growth and restraining inflation, are long gone.Just three and a half years after Gleneagles, Brown, by then prime minister, was hosting a meeting of the G20 in London’s Docklands, at which global leaders scrambled to respond to the havoc wreaked by the global financial crash.Old certainties were cast aside, relationships strained and the claim to leadership of the G8 industrialised countries was hopelessly undermined by the fact that the crisis originated on their doorstep.The resulting deep recessions in many wealthy countries raised questions about voters’ commitment to global causes.In the UK, public support for development, once solid enough to encourage David Cameron to embrace the target of spending 0.

7% of national income on aid, started to fall away from about 2012-13,More recently, the world has become a much more fragmented, multipolar place,Middle-income countries such as China and India have demanded more prominence on the global stage,Russia’s territorial aggression in Ukraine prompted its expulsion from the G8 – now the G7 – and killed off any lingering hopes that free trade and capitalism would ultimately usher in liberal democracy,Global solidarity was hard to summon, then, even before Donald Trump’s second term unleashed chaos in the global trading system.

The budgets of many rich-country governments have taken a battering from repeated economic shocks, at the same time as pressure mounts for more defence spending to confront potential threats,Labour ministers are quite right when they say “the world has changed”,Yet despite the more fraught global backdrop, the campaigners who worked alongside Blair and Brown at Gleneagles and beyond have been profoundly shocked by the British government’s casual disregard of development,Three years ago, Keir Starmer was promising to undo Boris Johnson’s “misguided” decision to absorb the Department for International Development back into the Foreign Office,Labour’s manifesto dropped this idea.

It suggested the UK had “lost influence” as a result of the Tories’ neglect of international development and promised to “turn the page to rebuild Britain’s reputation”, restoring aid to 0,7% “as soon as fiscal circumstances allow”,Instead, Labour slashed the aid budget, with little discussion, when Starmer wanted to promise Trump he would raise defence spending on his White House trip in February,Jenny Chapman, the development minister who replaced Anneliese Dodds when she resigned in protest at this deep budget cut, has insisted the UK still wants to lead on development,Yet it is hard to take the moral high ground while admitting that no area of policy, including projects to support women and girls’ health and education, will be safe from the cuts.

Labour has said it wants to create respectful partnerships with developing countries; but Save the Children UK’s director, Moazzam Malik, told me recently that the cuts would be felt by many countries not as a new-found era of collaboration but as a withdrawal.As the UK steps back at the same time as Trump is dismantling USAID, the challenges in some of the world’s poorest countries have only intensified.In particular, a blizzard of recent expert reports has called for action on the unsustainable debts squeezing many governments’ budgets.The UN-backed Financing for Development conference in Seville last week ended with promises of reform, including the wider use of “pause clauses” to halt repayments during natural disasters, for example – something the UK has supported.More radical solutions that might have included debt write-offs did not make it through the negotiations, but South Africa hopes to use its chairmanship of the G20 to press for more progress in the coming months.

Michael Jacobs, a former Brown adviser, now a visiting professor at the Overseas Development Institute, insists there was a sense of momentum on debt relief in Seville.“It was the single most significant topic of debate.There is rising pressure on the creditor countries – including China – to act.So, as in 2005, the moment for a new international debt relief package may be arriving,” he said.Other campaigners returned from Seville notably downbeat, however, pointing to the difficulties of assembling a global coalition of the willing on development in a time of tight budgets and fraying international bonds.

Summoning the spirit of Gleneagles may be too much to hope for, two decades on.But after a string of economic shocks and as the climate emergency accelerates, the moral imperative to act remains – even if this Labour government can’t find it in a focus group or on a spreadsheet.
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The spirit of the G8 ‘make poverty history’ summit of 2005 seems long gone | Heather Stewart

Twenty years ago this weekend, the leaders of the world’s most powerful countries, chaired by Tony Blair, gathered at the Scottish golf resort of Gleneagles and made a series of historic promises on debt relief and overseas aid.It was the culmination of a long-running campaign involving charities, churches and celebrities and benefited from the passionate commitment of Gordon Brown, for whom international development is a lifelong cause.A few days before, more than 200,000 campaigners had gathered in Edinburgh and formed a noisy, joyful human chain, demanding that the world’s leaders “make poverty history”.As a result of the momentum created and the promises made, international aid increasedand 36 countries eventually had their crippling overseas debts drastically reduced.There are many reasons it would be hard to envisage a Gleneagles summit today

about 20 hours ago
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Anger as Nationwide refuses members a binding vote on boss’s 43% pay hike

Nationwide is under fire for refusing to give members a binding vote on a 43% pay rise for its chief executive, Debbie Crosbie, that could mean her pay package reaches up to £7m.Campaigners say it leaves the building society’s members with fewer rights than shareholders of listed UK banks and exposes a worrying “loophole” in building society rules.Nationwide says that after its £2.9bn takeover of Virgin Money, Crosbie’s pay should compete with that offered by banks such as Lloyds and NatWest. However, the board is offering members only an “advisory” vote at its annual general meeting (AGM) on 25 July, meaning there are no repercussions if they reject it

about 21 hours ago
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Qantas attack reveals one phone call is all it takes to crack cybersecurity’s weakest link: humans

All it can take is a phone call. That’s what Qantas learned this week when the personal information of up to 6 million customers was stolen by cybercriminals after attackers targeted an offshore IT call centre, enabling them to access a third-party system.It is the latest in a series of cyber-attacks on large companies in Australia involving the personal information of millions of Australians, after the attack on Optus, Medibank and, most recently, Australia’s $4t superannuation sector.The Qantas attack came just days after US authorities warned the airline sector had been targeted by a group known as Scattered Spider, using social engineering techniques, including impersonating employees or contractors to deceive IT help desks into granting access, and bypassing multi-factor authentication.While companies may spend millions keeping their systems secure and software up-to-date to plug known vulnerabilities, hackers can turn to this form of attack to target, often, the weakest link – humans

1 day ago
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Buy now, pay later loans will now affect US credit scores – what does that mean for consumers?

A new change to buy now, pay later loans means borrowers’ credit scores may see a change, which has worried some users of the loans.“I have a feeling that I’m just not going to have as much access to spending power and zero or really low APR rates,” said Nicole Nitta, a 31-year-old Las Vegas resident, who uses BNPL and shared that she already does not have great credit.Fico, the credit scoring company used by most US lenders, announced on 23 June that they would include BNPL loans, which play “an increasingly important role in consumers’ financial lives”, to help lenders more “accurately evaluate credit readiness”.For users of companies like Affirm, Afterpay and Klarna, the new calculation could benefit them because it allows them to build their credit – if, of course, they pay back the loans on time, experts say.Nitta first used BNPL for essentials in 2021, like non-perishable food items

2 days ago
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How has Ryanair changed its cabin baggage rule – and will other airlines do it too?

For all but the most seasoned travellers the metal bag sizers used by budget airlines have become an instrument of fear because of the heavy financial penalty incurred if hand baggage is too big to fit.But as the summer holiday season gets under way there is some good news for those who struggle to travel light: Ryanair has announced it is increasing the size of the small “personal” bag you can take in the cabin for free by 20%.Yes. But it comes as airlines fall into line behind a new EU guaranteed bag size of 40cm by 30cm by 15cm. The current dimensions of the Ryanair free carry-on limit are 40cm by 25cm by 20cm – below the EU rule

2 days ago
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Leaders of Russia and China snub Brics summit in sign group’s value may be waning

Russia and China are not sending their leaders to a Brics summit starting in Brazil on Sunday in what may be a sign that the group’s recent expansion has reduced its ideological value to the two founding members.China’s 72-year-old leader, Xi Jinping, has attended Brics summits for the past 12 years. No official reason has been given for sending the premier, Li Qiang, other than scheduling conflicts.Russia’s president, Vladimir Putin, is facing an international criminal court arrest warrant and may have decided not to travel to Rio to avoid embarrassing the summit hosts, who are signatories to the ICC statute.Mongolia has been in an acrimonious legal dispute with the ICC after it did not act on the warrant when Putin visited last year

2 days ago
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AI helps find formula for paint to keep buildings cooler

5 days ago
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Google undercounts its carbon emissions, report finds

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‘A billion people backing you’: China transfixed as Musk turns against Trump

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AI companies start winning the copyright fight

6 days ago
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China hosts first fully autonomous AI robot football match

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Whitehall’s ambition to cut costs using AI is fraught with risk

6 days ago