The first vice-president of the Spanish Government and Minister of Finance, dismissed the possibility of relaxing the spending rule for the islands. This decision follows an interpellation by a nationalist deputy, who requested that the Canary Islands be allowed to incur more debt to address rising prices due to the international situation, highlighting that the archipelago has the lowest debt in Spain.
“"If three conditions are met, namely, «demonstrated fiscal balance, a temporary nature of the measure, and its link to a specific crisis», it is possible to relax the spending rule, and in this regard, the Canary Islands meet all three."
The nationalist deputy argued that European legislation permits this flexibility if three conditions are met: a demonstrated fiscal balance, the temporary nature of the measure, and its link to a specific crisis. According to her criteria, the Canary Islands fulfill these three requirements.
However, the Minister of Finance insisted that both Spain and the Canary Islands Community must abide by the law. Despite this stance, the minister acknowledged the anti-crisis measures already implemented by the Canary Islands, mentioning those approved on April 6 by the Governing Council. He estimated the cost of these measures to be around 15 million euros for the quarterly period until June 2026, potentially reaching 60 million euros if national measures are maintained.
The minister also emphasized the Spanish Government's commitment to respond to the specific needs of the islands as an outermost region. In this context, he mentioned an agreement between the central Executive and the Canary Islands to finance complementary measures that the Canarian Government could activate to mitigate socioeconomic effects. Furthermore, he suggested that the Canary Islands could implement other actions, as other communities have done, and recalled that the approved decree included specific measures for the islands, such as 30 million euros for maritime transport and 10 million euros for inter-island journeys.
Finally, the minister reminded that since 2018, 75% of air and sea tickets for residents have been subsidized, which translates to almost 1,200 euros recognized in the Canary Islands in 2025, including inter-island tickets, in addition to 108 million euros to support freight transport in the archipelago.
