Millions in British aid is funnelled to insurance fatcats to fund premiums for countries prone to natural disasters : Mirror.

Money is being sent to city insurance firms rather than those abroad who need it.

Theresa May has insisted we ‘must not forget’ how foreign investment benefits the UK (Image: Getty)

Millions of pounds of British aid cash will be poured into UK insurance firms to fund premiums for poor countries at risk of natural disasters, No 10 announced today.

A total of £30million will be ploughed into insurance policies and planning to protect developing nations from catastrophes like floods, hurricanes and droughts.

The money will come from the Department for International Development’s £13billion budget, as the Government earmarks 0.7% of national wealth on foreign aid.

But instead of the funds being spent on mosquito nets, anti-malaria jabs or feeding starving youngsters, the four-year plan will see UK taxpayers’ money funnelled into the pockets of rich City insurance fatcats.

And the move could anger British families in flood-risk areas who are unable to afford home insurance and have been repeatedly inundated, ruining their houses and possessions.

Read More : Mirror.

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