Spain's New Regional Funding Model Approved Despite Opposition
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Spain's Minister of Finance, Arcadi España, successfully pushed through a new regional funding model at the Council of Fiscal and Financial Policy, despite opposition from several autonomous communities. The new model, which aims to redistribute resources more fairly, was approved with the support of Catalonia and the Canary Islands, but was rejected by communities governed by the PP, including Madrid, as well as by the socialists in Castilla-La Mancha and Asturias. The model, which requires an absolute majority in Parliament, will now proceed to the legislative process.
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