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"the spending" is correct and usable in written English.
You can use it to refer to an amount, or amounts, of money spent on something. For example: "The spending on this project has exceeded our expectations."
Dictionary
Exact(56)
The spending.
End the spending spree.
"The spending continues".
Enough of the spending.
The spending spree continued unchecked.
The spending is a risk".
Virtually all of the spending benefited Republicans.
ALBANY — The spending plan tops $141 billion.
Liberal Democrats hate the spending cap.
Who's afraid of the Spending Review?
But the spending keeps going on".
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com