Treasury pushes through new regional financing model with support from Catalonia and the Canary Islands

The Spanish Ministry of Finance managed to approve this Friday in the Fiscal and Financial Policy Council (CPFF) its proposal for a new financing model for the autonomous communities. The approval counted on the support of Catalonia and the Canary Islands, despite the opposition of the majority of the remaining autonomous communities. The CPFF is the body responsible for debating and approving issues related to territorial financing and fiscal policies between the central government and the autonomous governments. The approval of the new model represents a significant change in the distribution of economic resources among the different regions of Spain. The autonomous communities that voted against the proposal expressed their disagreement with the terms of the agreement, although the article does not detail the specific reasons for their opposition.