Overseas aid was cut from $5.03 billion in 2014-15, to $4.05 billion in 2015-16, a reduction of around 20 per cent. Further cuts are scheduled to follow until 2017-18, by which time Australia's aid budget relative to gross national income will have sunk to 0.21 percent, its lowest level since overseas assistance was formalised in the post-war period. It will also be substantially below what Australia's more prosperous OECD partners allocate.