RN launches 'Dónde están las lucas' offensive over Boric's fiscal legacy

Renovación Nacional (RN) deputies announced a fiscal oversight agenda called 'Dónde están las lucas' to clarify the state of public finances inherited from Gabriel Boric's government. They describe it as a 'fiscal catastrophe' with a 2025 structural deficit near 3.5% of GDP. It includes a special session, requests to ministries, and a possible investigative commission.

On March 21, 2026, Renovación Nacional (RN) deputies unveiled the 'Dónde están las lucas' initiative, an offensive to oversee public finances after Gabriel Boric's government ended. They accuse a 'fiscal catastrophe' with a 2025 structural deficit near 3.5% of GDP, equivalent to about US$13.200 million, exceeding committed targets, per the Consejo Fiscal Autónomo (CFA) March 2026 report noting a 2.5 percentage point deviation (-3.6% versus -1.1%). The CFA blamed 'repeated and significant errors in fiscal income projections' and insufficient corrective measures, the largest structural deficits since 2001 excluding the pandemic. Measures include a special session in the Chamber of Deputies with Finance Minister Jorge Quiroz and the CFA; requests to all ministries on budget execution, pending obligations, and risks to social benefits and subsidies; assessment of an investigative commission to summon former officials; requests in congressional committees; and penal actions if irregularities are found. RN will re-push a bill requiring ex-officials to appear before investigative commissions. Bancada chief Diego Schalper stated: 'We want the country to know the depth of the fiscal deficit inherited from President Gabriel Boric's government' and 'Chileans deserve to know where the money is'. Eduardo Durán said: 'State resources belong to all Chileans and citizens have a duty to know exactly how every peso was spent'. Andrés Celis noted: 'There is no money. That's what former President Boric left us'. An opinion column in La Tercera criticized arguments by ex-ministers Marcel, Grau, and ex-spokesperson Vallejos, stressing net debt and CFA warnings on fiscal sustainability.

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Argentine Chamber of Deputies President Martín Menem speaking at a podium, warning of budget veto amid fiscal concerns in a tense legislative setting.
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Officialism warns of budget veto without fiscal balance

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Following legislative elections, Argentina's officialism warned the opposition it will veto the 2026 Budget if it fails to ensure fiscal balance. Chamber of Deputies President Martín Menem stressed the need for rationality to avoid political chaos. The government aims to delay the debate until new legislators take office on December 10.

Provincial deputy Santiago Pérez Pons filed a criminal complaint against Mayor Bruno Cipolini and his economic team for irregularities in handling public funds invested in risky stock instruments. The accusation alleges embezzlement and lack of authorization, amid deficit budgets. The municipality defends its actions as legal and plans to recover the lost funds.

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Opposition senators criticized President José Antonio Kast's National Reconstruction Plan, labeling it a 'hidden tax counter-reform' due to tax cuts that would defund the state by up to US$2.8 billion annually. In a tense La Moneda meeting, they warned against rollbacks on social rights. The bill is expected to enter Congress on April 1.

Chile's left and center-left face a historic defeat in the presidential runoff, where José Antonio Kast secured 58% of the votes on December 14. Analysts criticize the lack of a deep diagnosis on the failure's causes, attributing it more to management flaws in Gabriel Boric's government than to public rejection of its refundational political project.

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The Senate's Finance Committee started reviewing the public sector readjustment bill, presented by Finance Minister Nicolás Grau. Deputies approved a 3.4% gradual salary increase but rejected the 'tie-breaker norm' aimed at greater job stability. Opposition anticipates rejecting that provision again in the Senate.

The Spanish government has accelerated its proposal to reform the autonomous communities' financing model, aiming to present an advanced offer in the coming weeks that includes more resources for public services. This initiative seeks to appease partners like ERC, who are pressing for progress on Catalonia's singular financing, and to position itself favorably in the 2026 regional elections. Andalucía will benefit from financial improvements and significant debt relief.

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After Gabriel Boric's government ended and José Antonio Kast took office, several former undersecretaries have taken up new roles in Congress, municipalities, and academia. Figures like Nicolás Facuse and Luna Follegati now serve as parliamentary advisors, while others seek positions in the private sector or education.

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