Resumen
The Wage Guarantee Fund (FOGASA) is a public institution in Spain that pays, up until the limit, labor credits to workers affected by a dismissal when the employer is bankrupt, which has been influenced by the policy of spending cuts as any other public institution. The objective of this paper is to examine whether the 2012 Labour Market Reform, adopted under the influence of the Budgetary Stability Law, has been successful and has had an impact on FOGASA?s expenses. To this end, the study analyzed budget settlement and looked for variables that can explain spending evolution in a better way, using a linear regression model. It is GDP and other economic variables that explain this evolution, not cuts in the benefit limits.