In the following sentence, should I use "set", "set out" or "set up"?
The government has set/set up/set out strict limits on public spending this year.
Do the 3 of them have the same meaning? What would be the differences in nuance? My dictionary has (among other definitions for each verb) "arrange sth" for the 3 of them, so I'm confused about their usage when you want to say "arrange/establish something"