Manufacturers Association president Shraga Brosh: The government is considering measures that will worsen the business environment.
Manufacturers Association of Israel president Shraga Brosh has asked the government for NIS 1 billion over five years to help companies cope with the global economic crisis. He told the Knesset Finance Committee, "Precisely when the Israeli economy is liable to slip to a severe slowdown, and even a recession, the government is considering measures that will worsen the business environment and harm the competitiveness of Israeli industry."
Brosh added, "The Water Commission plans to raise water rates for industry by 150%, local property taxes (arnona) are due go up by 4.6% next year, and electricity rates will rise by 5%. The excise on crude oil will rise 24-fold over several years, and tax breaks for industrial employees are due to be cancelled by the end of the year."
Published by Globes [online], Israel business news - www.globes-online.com - on November 6, 2008
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