Some people scorned Paul Martin for getting close to Bono and to meeting with aging rock-star, Bob Geldof, at the recent G-8 Summit to talk about aid to Africa. They say that rich musicians shouldn’t have intimate connections to a Prime Minister. I say, “Power=Money + Whatever Influence Money Can Buy”

Just ask Liberals the cost of Belinda Stronach’s cabinet seat received 8 hours of her crossing the floor.

The focus at the recent summit was whether the world’s richest countries are prepared to commit 0.7% of their national earnings (GDP) to African aid and to forgive tens of billions of dollars of debt to Africa’s poorest countries. This 0.7% figure is actually a “made-in-Canada” figure invented by former Liberal Prime Minister, Lester Pearson.

Canada and the United States have been reluctant to submit this kind of aid (although Paul Martin has led Bono to believe that he is willing to move forward on some kind of 0.7% plan, whatever that means). However, I do question the logic behind any % target. That is like choosing to live in a house solely on % of annual salary.

If Canada can affordably cancel some outstanding debt to countries adopting firm democratic principles, similar to how we treat those declaring bankruptcy, I think Canadians would accept that. But any plan to tie future aid to Africa as a % of national earnings is simply illogical and ill-conceived.

D’Arcy Barker is a Chartered Financial Planner and Registered Employee Benefits Consultant- www.barkermoney.com

E-mail: ReduceYourTaxes@barkermoney.com