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World Jewish News
Netanyahu promises to lower taxes in '09
05.03.2009
Prime Minister-designate Binyamin Netanyahu said Thursday that he intends to lower taxes this year, despite the global economic crisis and the sharp drop in income tax revenue. Against the Treasury's and Bank of Israel's recommendations, he said he will put into action a series of processes, as soon as he becomes prime minister, most likely in the coming two weeks.
The first step, Netanyahu said, will be lowering income tax for low and medium income earners, and corporate tax for small business, in an effort to boost the private sector and encourage consumer spending.
He specifically promised help for factories and businesses in the Negev and the Galilee.
Netanyahu went on to say that he will come to agreements with both the Histadrut Labor Organization and with employers, to "bear the burden of preventing dismissals."
Last week, Netanyahu and Histadrut chairman Ofer Eini met in Tel Aviv, and agreed to cooperate in an effort to find ways to cope with the economic crisis and deal with rising unemployment.
The prime minister-designate also promised to deal with investment in industries such as public roads, and the rail system, as well as water and energy issues and the credit market.
Although Netanyahu is still in the process of forming a new government, and the identity of the next finance minister is not known, he has started to assemble his economic team.
Having formerly served as finance minister, Netanyahu understands the urgency of the economic situation and is determined to keep a close eye on economic policy-making and take an active part in economic decision-making. Bank of Israel Governor Stanley Fischer, who was brought to the central bank by Netanyahu, is expected to play an important role.
By JPOST.COM STAFF. Sharon Wrobel contributed to this report.
Источник: JPost.com
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