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Spain News Today

Spanish news in English

Friday, September 20, 2024

PP Demands €18 Billion EU Fund Transfer

Published: 2024-09-08

The Partido Popular (PP) in Spain is intensifying its campaign for regional funding by formally requesting the transfer of €18 billion from the EU's Next Generation funds to the autonomous communities.

This move, announced during a recent summit in Madrid, is part of a broader strategy to challenge the current government's financial policies.

The PP argues that these funds, which are crucial for regional development, have not been effectively utilized by the central government.

The request, spearheaded by Juan Bravo, the PP's Deputy Secretary of Economy, is directed at the Vice President and Minister of Finance, María Jesús Montero.

The PP's demand highlights the ongoing debate over regional financial autonomy and the need for a multilateral negotiation to reform the outdated regional financing system.

Despite the central government's record transfers to regions in recent years, the PP insists on immediate financial injections to support local economies.

This financial tug-of-war underscores the political tensions between the PP and the ruling party, as both sides prepare for future electoral battles.