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He wholeheartedly defends the coalition government's failure to enshrine into law the target to spend 0.7% of GNI on aid.
The government is expected to reach the target to spend 0.7% of gross national income on aid this year.
Is the target to spend 0.7% of gross national income on aid becoming even more of a red herring?
Only five OECD countries have met the international target to spend 0.7% of their gross national income (GNI) as aid.
Ministers are under increasing pressure from Tory MPs and senior military figures to commit Britain to meeting the Nato target to spend at least 2% of GDP on defence beyond 2016.
Britain will meet its target to spend 0.7% of gross national income on aid this year, George Osborne, the chancellor, confirmed in his budget speech on Wednesday, declaring it a "historic moment".
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Some analysts suggest that the deferral of payment in this way will encourage advisers – who receive a team bonus for meeting targets – to spend less energy on the difficult cases.
Germany's growth rate has tumbled to around 1% and there is a deeper malaise caused by years of underinvestment, a disastrous energy policy and a government that is too obsessed by its fiscal targets to spend money and too frightened of its voters to push through the sort of structural reforms that Gerhard Schröder implemented in 2003.
Players, who previously offered to reduce their salaries by $500 million over five years, considered the owners' proposal for a "flex" cap, where each team would be targeted to spend $62 million, a hard cap.
The cost ceiling is £21.4 billion at 2011 prices, though the target is to spend just £17.16 billion.
Educational spending: $95.2m Percent of CSR budget: 37% Noteworthy program: In 2015, US-based Target plans to spend $1bn on education – double its 2009 contribution.
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