Canary Islands lose €166 million as PP backs national party line on fiscal rule

The Popular Party (PP) councillor for finance in the Canary Islands, Matilde Asián, voted against a proposal in the Council of Fiscal and Financial Policy that would have provided an additional €166 million to the archipelago over the next three years. Socialist organizer Nira Fierro said the vote followed directives from national PP leader Alberto Núñez Feijóo and prioritised party loyalty over regional needs, calling it a betrayal of Canary Islanders.

At the same meeting, Finance Minister Matilde Asián warned that the national 4 % spending‑rule, which caps regional budget growth, is “asphyxiating” the Canary Islands’ finances. Despite a fiscal surplus and debt well below EU limits, the rule prevents the region from directing growing tax revenues into health, education and social programs. Asián urged an immediate revision of the rule, arguing that the islands’ low debt makes the constraint unnecessary and harmful.

Both officials highlighted a clash between the central government’s fiscal framework and the specific economic realities of the Canary Islands, with the PP’s opposition potentially denying the region significant resources for essential public services.