John Müller: The Ratchet Effect


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The pandemic represented a brutal increase in spending ceiling non-financial of the Management of 73,198 million euros in 2021. We went from the 122,899 million planned for the financial year 2020 to 196,097 million in 2021. An astonishing 59.5% increase in public spending from one year to the next, justified by the health emergency. By 2022, the number remains practically the same level, with an increase of just 45 million. Curiously, this increase almost coincides with the famous six percentage points of Spanish GDP that according to Pedro Sanchez constitute the famous gap in tax collection between Spain and the average of the European Union.

One might think ‘Kennedianly’ that in this matter

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