Minister of Finance Yair Lapid said today at the inauguration of the new Tel Aviv Stock Exchange, “What we need now, after 50 days of fighting, is growth. Now is the time in which we need a stable, strong economy, and also a creative, optimistic economy, that believes in itself. You know better than most people - perhaps better than anyone - that trading is not technical. It is influenced by people. By their fates, their moods, the manner in which they interpret reality. Economics is psychology, and if we believe in ourselves, others will believe in us too.”
Lapid reiterated his promise not to raise taxes in 2015, and said, “We are about to submit the 2015 budget in the coming days. This budget is entirely geared towards growth engines. Towards creating high-productivity jobs and expanding workforce participation to include additional populations, with an emphasis on haredim (ultra-Orthodox) and Arabs. To support the Office of the Chief Scientist, and to boost start-up culture through the Angel-Investor Law. This is a budget that has substantial chapters dedicated to assisting small and medium-sized businesses, to strengthening industry and exports, to reducing the cost of living, and to fighting poverty. In parallel to these plans, if we want to continue and encourage growth, we cannot and need not raise taxes now. When I say we will not raise taxes, that means we will also not raise taxes for businesses or for capital markets. Because now we need to take steps that will contribute to growth in the economy, and won’t cause stagnation.
“We will not raise taxes for citizens, or for companies, because we can’t piggyback on the shoulders of Israeli citizens every time there is a problem, and stick our hands in their pockets. They are not dairy cows, and they deserve more from us. We need to create more disposable income for them, and, furthermore, to re-instill confidence in the fact that in Israel there is a fair game in which a citizen receives education for his children, healthcare for his parents, and disposable income in return for his hard work and taxes.”
In the spirit of the inauguration, Lapid said, “Take note of this budget. If Israel were a stock, I would buy it today, before it goes up. The shekel is finally weakening, which will help exports; our primary markets, the US and Europe, are beginning to recover; the miracle of Israel - which is based upon generation after generation of innovation and creativity - is at one of its high points. After a difficult period, there is once again hope for hope.”
“Hope creates an environment of development, of change, of future. An economy is not just an Excel chart and numbers. An economy is also a mood. If the citizens feel that they have economic support, they are willing to invest, willing to spend money, and in so doing, to encourage growth. You also have a role in this. If you do everything in order to attract good companies to the Tel Aviv Stock Exchange and to create investment opportunities that are attractive to investors, there is no limit to what we can do together in the coming year.”
Published by Globes [online], Israel business news - www.globes-online.com - on September 8, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014