Business leaders slam Smotrich economic plan, back Barkat counter-plan

A forum of leading business and trade associations representing about 1.5 million employees lambasts Finance Minister Bezalel Smotrich for proposing an emergency aid plan for war-affected businesses that will not help them survive.

During an emergency meeting, the group of business organizations announce that they outright reject the Finance Ministry’s outline, which they say is detached from reality. Instead the forum, which includes the Israel Manufacturers’ Association, the Association of Contractors and Builders, and the Chamber of Independent Organizations and Businesses, urges the government to adopt the plan proposed by Economy Minister Nir Barkat.

“We do not want our soldiers to return home after the war, just to fight to make ends meet,” says Ron Tomer, president of the Israel Manufacturers’ Association. “If we don’t wake up, reservists will come home to find themselves out of business and out of work.”

The alternate compensation plan presented by Barkat this week would enable every business to employ part-time workers. On days an employee can’t work, the government would compensate businesses at a rate of 70%. His plan also proposes to increase the amount of grants for fixed expenses presented in the Treasury’s outline for businesses that have suffered losses.