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Wednesday, August 09, 2006

No Tax Increase For Israeli Citizens

With the Lebanon war raging, the Finance Minister of Israel has decided that the nation should not raise taxes in order to benefit not only those who are out of work (do to the rocket attacks against the cities) but also to keep the Israeli economy stable.

But before you yell out praise, the deal gets even sweeter.

(Globes Online) Minister of Finance Abraham Hirchson told the forum of Knesset committee chairpersons today that the government had no plans to raise taxes either this year or next. He said he suspended discussions on the 2007 budget until after the war and an evaluation of its results. [...]

Hircshon said all the Ministry of Finance's measures were designed to compensate victims of the war beyond direct damage as quickly as possible. "Israel must demonstrate to the world, especially foreign investors, that this is a country with a stable economy able to survive the crisis and immediately after the war continue to develop and function normally."

With the shekel also improving this should put more money is Israelis pockets for a while. This should also encourage foreign investors to continue to...well invest in Israel.

If anyone is looking for other ways to support the Israeli economy, Friends of Israel has a list of businesses you may consider shopping from.

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