The Prime Minister's Office announced on Monday that it had slightly altered its NIS 6 billion ($1.75 billion) bailout plan to better help those most in need. The other aspects of the national economic stimulus package will not be changed after Finance Minister Israel Katz objected to reducing the grant designated for single Israelis.
In a statement, the PMO said the new model for the distribution of funds was finalized after consultations with Defense Minister Benny Gantz, Katz, and Economy Minister Amir Peretz.
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According to the new plan, all citizens will receive one-time grants – with the exception of those earning over NIS 640,000 (approximately $186,000) annually and senior civil servants earning over NIS 30,000 (approximately $8,700) monthly.
These exclusions, which are expected to free up nearly half a billion shekels, will be reallocated to better help those receiving support payments for convalescent care, handicapped status, income assurance, disadvantaged new immigrants (who have been in the country for at least two years), the unemployed over 67, and the elderly who receive income supplements.
As for the aspects of the original plan that weren't changed, all couples with one child will receive a one-time payment of NIS 2,000 ($583), rising to NIS 2,500 ($729) for those with two children, and NIS 3,000 ($875) for those with three or more. Single Israelis aged 18 and over will each receive NIS 750 ($218).
Since Prime Minister Benjamin Netanyahu unveiled the plan last Wednesday, it has garnered widespread criticism for failing to prioritize those most affected by the coronavirus pandemic and subsequent economic fallout.
Senior officials in the Finance Ministry, including Director-General Keren Terner Eyal, opposed the plan ahead of its unveiling, likening it to "throwing suitcases of money that we don't have into the sea," according to Channel 13.
Katz said he opposed annulling the stipends for single Israelis because doing so would "severely harm the soldiers, students, and many others who have contributed and contribute to Israel's economic strength."
Peretz, meanwhile, said it was "very important to send the message that the weaker [socioeconomic] stratums were being prioritized at this time."
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