Israeli gov't unveils plan to cut cost of living

Prime Minister Naftali Bennett, Minister of Finance Avigdor Liberman and Minister of Economy Orna Barbivai presented the Israeli government's plan this evening to cut the cost of living. The plan includes a NIS 230 income tax cut each month for all employees with children aged 6-12, and cuts in excise for imports of flour, olive oil, eggs, meat, fish, furniture and kitchen equipment. The government will also pay the recent electricity rate hike for employees on low salaries and subsidize afternoon school for working parents.

Liberman said that the plan will cost the government an estimated NIS 4.4 billion and there will be more measures to follow.

There was criticism of the plan from within the government coalition. Labor MK Naama Lazimi said, "The people deserve a genuine plan and not crumbs."

MK Moshe Gafni from the opposition United Torah Judaism said that the plan was "too little, too late."

Published by Globes, Israel business news - en.globes.co.il - on February 9, 2022.

Israeli gov't unveils plan to cut cost of living

Finance Minister Avigdor Liberman said that the plan will cost the government an estimated NIS 4.4 billion.