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Cash gifts to ‘home’ bigger than foreign investment
31/10/2006
ONE-in-three Asians in the north west send an average of £1,000
a year home to relatives according to a government survey.
The cash is used to buy food, to pay medical bills and help with
schooling.
The senders said the money would make a decisive difference to
relatives in the home country.
The senders are mainly between 22 and 44 years old have an average
income in the UK of £22,000.
Among the five largest recipients of the cash are Pakistan and
India.
In some countries these remitances are larger than the money
overseas companies contribute to the economy of the developing
nations concerned.
Many of those asked complained about the expense involve sending
money abroad.
Over 7,000 people responded to the survey by the Department of
International Development including hundreds from Burnley,
Manchester, Oldham and Trafford. Stockport, Trafford
.International Development Minister Gareth Thomas said: "Sending
money home to families in developing countries plays a vital role
in helping to tackle poverty, but until now there was little
detailed information on what contribution ethnic minorities in the
UK made."
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