The Cabinet is expected to approve the safety net for pension savings plan at next Sunday's meeting after Minister of Finance Ronnie Bar-On and Prime Minister Ehud Olmert reached a deal on it. Minister of Foreign Affairs Tzipi Livni has already voiced her support.
Livni said, "The test now is fast implementation of both the economic stimulus and the pensions safety net plans. The ministries' officials should immediately carry out the government's decisions."
The ministers from the Labor Party, Shas, and Gil Pensioners Party are not expected to cause trouble. Minister of Housing and Construction Zeev Boim will support the plan, but intends to demand the addition of a clause ordering the establishment of an investigative committee to examine the investment policies of financial institutions that invested other people's money.
The Knesset Finance Committee is scheduled to vote on the safety net on Monday. A majority of the committee's members are expected to vote in favor, although some members do not think that the plan goes far enough. MK Reuven Rivlin (Likud) said that he would support the safety net, with the caveat, "Statesmanship requires us to promote every effective plan."
Published by Globes [online], Israel business news - www.globes-online.com - on December 11, 2008
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