• Electoral debate: Dispute in the center right

The new Government's first challenge is to respond to the letter from the European Commission that warns Spain that it is at "risk of significant deviation" from the rules of the euro by the timing of its deficit and its debt. This was recalled by introducing the economic bloc moderator Ana Blanco asking the leaders how they will make the necessary adjustment. They are 0.65% of the Gross Domestic Product, equivalent to 6,700 million additional adjustment via more income or less expenses. It is not only necessary to avoid the embarrassment of returning to the uncontrolled deficit van under Brussels control, but also to correct a vulnerability of the Spanish economy that can be lethal in the event of a new crisis.

However, no candidate responded in the electoral debate to how they would face this first challenge if they arrive in Moncloa and that it is real afterwards, as Mariano Rajoy showed when he just came to the Presidency of the Government in 2011, he raised taxes by surprise. They did not even respond to say that the European Commission will be asked for flexibility by taking advantage of the new winds of relaxation. The majority acknowledged that the economic situation has already changed with respect to the April elections, but their proposals at that time did not change substantially.

Pedro Sánchez acknowledged the cooling, but after assuring that "we have to be rigorous," he gave a wrong figure in his favor in 200,000 jobs. "Since the third quarter of 2018 we [have?] Created around 530,000 jobs", when according to the National Statistics Institute the correct figure is 332,000. That is, 35% less than what Sánchez said.

The socialist leader once again concealed what taxes he intends to raise to finance his electoral program, which, as he did not deny the leader of the PP, Pablo Casado, implies 30,000 million euros a year at the end of the legislature. Among his few concretions in this block, he announced that if he manages to continue in Moncloa, he will appoint Nadia Calviño as economic vice president, who theoretically already is de facto as president of the Delegate Committee on Economic Affairs. By the way, he plans, if he wins, a strong expansion of the Council of Ministers, as he mentioned adding to the Ministry of Depopulation and other Housing. Yes, he made it clear that he is against tax cuts and was surprised to use former PP Finance Minister Cristóbal Montoro as a source of authority, who has declared himself skeptical about Casado's tax cut of 16,000 million. The leader of the PP was the most emphatic in favor of lowering taxes without specifying either with what cut of expenses or increase of new income to respond to the letter of the European commissioners.

The leader of Podemos, Pablo Iglesias, seemed not to believe his own star proposal to create a universal basic income with a cost of 10,000 million, but he promised a free dentist, education and university, in addition to shielding the revaluation of pensions by law. Something does not fit the citizens so that with such beautiful promises do not go first in the polls.

There were no objections from any candidate to raise pensions with the CPI, which implies the end of 0.25%, but no one explained how to make the system sustainable with increasing annual spending size. Sanchez tried a more centrist profile in the economic area and rebuked Iglesias to criminalize businessmen and came out in defense of Inditex's owner, Amancio Ortega, without anyone asking him. What Iglesias did ask him is what about his promise to repeal the labor reform and the publication of the list of tax amnesty. But the leader of the PSOE chose to talk about climate change in response. As for the Vox leader, Santiago Abascal, he defended the suppression of the illegal immigration subsidy as a recipe, but without knowing its scope and asked the PSOE leader on several occasions about the savings it would entail.

And it was in the air how to finally clean up public accounts. There is no way.

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  • General elections
  • economy
  • Politics
  • PP
  • PSOE
  • We can
  • Nadia Calviño
  • Pablo Casado
  • Pablo Iglesias
  • Pedro Sanchez
  • Vox
  • Spain

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