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ISRAEL AT WAR - DAY 399
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Finance Ministry
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Treasury proposes to cut benefits, hike taxes for lowest earners to fund war
By
Sharon Wrobel
and
Sam Sokol
Arrangements Law also includes measures taxing advanced study fund and pension contributions; the ‘government is going to hit you in the savings,’ warns Liberman
Some European firms withdraw from Israel-linked finance amid pressure over Gaza war
By
Reuters
November 5, 2024, 9:25 pm
Some European firms withdraw from Israel-linked finance amid pressure over Gaza war
Data shows direct investment into Israel fell by 29% in 2023 as credit rating agencies flagged war’s unpredictable impact on investment in the country
By
Reuters
October 31, 2024, 9:58 pm
Smotrich extends deal allowing Israel-PA bank ties, but only for 1 month, angering US
Official says move allows far-right minister to keep options open depending on who wins election, use issue as leverage when Biden weighs steps to boost Palestinian statehood
By
Jacob Magid
October 31, 2024, 8:01 pm
2025 state budget to increase defense spending, cut social services and education
To finance the war, which is estimated to cost NIS 250 billion ($66.8 billion), the Finance Ministry is proposing deep spending cuts as well as tax increases
By
Sharon Wrobel
and
Sam Sokol
October 15, 2024, 4:49 am
Treasury proposes to cut benefits, hike taxes for lowest earners to fund war
Arrangements Law also includes measures taxing advanced study fund and pension contributions; the ‘government is going to hit you in the savings,’ warns Liberman
By
Sharon Wrobel
and
Sam Sokol
October 10, 2024, 6:14 pm
Fiscal deficit climbs to 8.5% as state continues to shell out for war effort
Deficit climbs for sixth month above 2024 government budget ceiling of 6.6%, as spending on the war with Hamas and intense fighting with Hezbollah tops NIS 103 billion
By
Sharon Wrobel
September 24, 2024, 5:40 pm
Treasury is said to propose new taxes to bolster state coffers and finance war
Among the draft proposals for 2025 is freezing tax credits, taxing advanced study funds, reducing tax benefits on pension deposits, and increasing the tax on electric vehicles
By
Sharon Wrobel
September 23, 2024, 3:17 pm
Government, teachers’ union announce 5-year salary agreement
New deal includes retroactive grant and raises for teachers, principals and specialized staff; agreement allows for trial run of ‘individual contracts’ for some new hires
By
Gavriel Fiske
September 22, 2024, 7:36 pm
Finance Ministry proposes creating independent authority to manage waste treatment
Following years of failure to significantly reduce amount of trash sent to landfill, ministry suggests new body to bring Israel up to OECD standard
By
Sue Surkes
September 17, 2024, 10:50 am
Government proposes more taxes, stricter regulations for Dead Sea mineral extraction
Ministries of finance and environment, Tax Authority release for public comment draft franchise for Dead Sea Works, whose current franchise runs out in 2030
By
Sue Surkes
September 8, 2024, 9:45 pm
Government signs permits for new Beersheba hospital after 10-year delay
Medical center slated to open in 2028; Health Minister Buso says it will ‘reduce the gap in medical treatment between the center and the periphery’
By
Diana Bletter
September 8, 2024, 9:01 pm
Israel faces a looming financial crisis if it fails to act, former chief economist warns
Yoel Naveh sees high probability that Israel will be plunged into recession, endangering national security, in next three to five years if it fails to pass responsible 2025 budget
By
Sharon Wrobel
September 5, 2024, 12:46 pm
As Smotrich holds up funding, some Arab Israeli mayors allege racism
Finance minister’s decision to withhold $55 million for economic development in the Arab sector ‘exacerbating the cycle of poverty and violence,’ says Umm al-Fahm mayor
By
Sam Sokol
September 3, 2024, 5:42 pm
Smotrich presents 2025 budget plan, saying war is costing economy as much as NIS 250b
Meeting the deficit target of 4% set for 2025 will require measures including freezing public sector pay, but no tax hikes, finance minister says
By
Sharon Wrobel
August 31, 2024, 11:02 pm
High school teachers go on strike Sunday after talks founder on eve of school year
Crisis talks don’t yield breakthrough; Education Minister Kisch slams union head Ran Erez and Finance Minister Smotrich, says both ‘want this strike’ and are locked in ‘ego battle’
By
Gavriel Fiske
and
ToI Staff
August 28, 2024, 5:35 pm
High school teachers union chief declares strike over salary dispute with government
Ran Erez says educators will go on strike September 1, the start of the new school year, as he and the education minister trade blame for deadlocked contract negotiations
By
Gavriel Fiske
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