International aid charities were dismayed at what they said was a cut worth almost £2bn in the UK’s aid priorities overseas.

Following the announcement, Mr Gates said the UK “withdrawing” from its overseas aid role “leaves us all at greater risk”.

“Today’s Budget is a disappointing outcome for the world’s most vulnerable people,” he said in a statement.

“I hope to see the UK chart a path back to the commitments that demonstrate this global outlook in action.”

Gideon Rabinowitz, from UK NGO network Bond, accused the government of making a “short-sighted decision” meaning “UK aid will plummet this year”.

“We must support asylum seekers, but funding should come from a dedicated budget – not at the expense of other marginalised communities around the world,” he said.

Hannah Bond, Co-CEO of ActionAid UK, said she was “profoundly disappointed” in the decision.

“After the previous government took a wrecking ball to projects aimed at tackling gender inequality, Labour is following in their footsteps by further abandoning women and girls when they need it the most,” she said.