Leaders of the richest economies of the world have been quick to bail out the banks. The total of bank bailouts to date is $18 trillion. Yet pledges of aid to developing countries are now under threat as some of these countries slash their aid budgets.

In an open letter in The Times and The Guardian today, high profile personalities (including Peter Gabriel, Sir Roger Moore, Dustin Hoffman, and David Gilmour) and businessmen and women called on G8 leaders not to renege on their promises of aid to developing countries and announced the launch of their fundraising appeal, which, along with ActionAids around the world, aims to raise £54 million over three years.

Click here to read the open letter in full, and visit actionaid.org.uk/nogoingback for more details of the campaign, and to make a donation.