226.032 million euros: the Spanish government presents the "greatest spending ceiling in history"

Source Summary

After announcing the deficit targets for the autonomous communities to the Council of Fiscal and Financial Policy, this Tuesday the Council of Ministers ratified them and also approved the spending ceiling for all public administrations. The Minister of Finance, Arcadi España, announced that it will be the "biggest in all of history": up to 226,032 million, 6.6% more than the previous spending ceiling. "It has no precedent," he remarked, asserting that this will allow for the development of expansionary budgets in terms of the welfare state.