Prime Minister Naftali Bennett, Finance Minister Avigdor Lieberman and Economy Minister Orna Barbivay unveiled on Wednesday a host of measures aimed at tackling the surging cost of living in Israel.
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The new plan includes provisions to boost compensation for businesses and independently employed who have been adversely affected by the coronavirus pandemic, as well as average Israeli households.
"Our job as a government is to take fewer taxes and to create real competition," Bennett said, vowing to focus on "making sure bills go down" but also on increasing wages. Finance Minister Avigdor Lieberman said that the plan would also see increased subsidies to daycare centers and after-school programs.
Under the emerging plan, working parents will get additional tax credits worth hundreds of shekels per month. On top of that, the eligibility for negative income tax will be expanded and the rise in utility prices would be moderated.
Earlier this week Bennett vowed, "to make it very clear – the government will help businesses who were hurt during this period."
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