Britain's Hunt: not possible to restore foreign aid budget to 0.7%

British finance minister said on Thursday it would not be possible to restore the aid budget to 0.7% of gross national income from its current level of 0.5% because of the "significant shock to public finances".

"It will not be possible to return to the 0.7% target until the fiscal situation allows," Hunt told parliament.

"We remain fully committed to the target and the plans I have set out today assume that ODA spending will remain around 0.5% for the forecast period."