Prime minister-designate MK Benjamin Netanyahu today reiterated his pledge to cut taxes this year, belying reports to the contrary this morning.
Netanyahu's office released a statement, which said that he was trying to reach a deal with employers and the Histadrut (General Federation of Labor in Israel) to prevent layoffs. "In view of the harsh reality, Netanyahu's first priority is to cut taxes in 2009."
Netanyahu's office said that the income tax cut would apply first to low and middle income-earners. He also plans to cut the company tax, which should help small businesses.
Netanyahu also plans to help factories and enterprises in the Negev and Galilee on a case-by-case basis. He wants to reach understandings with employers and the Histadrut for each of them to share the burden of preventing layoffs.
Netanyahu's economic plan includes investing in and building infrastructure projects, particularly roads, railways, water, and energy. It will also deal with the credit distress.
Published by Globes [online], Israel business news - www.globes-online.com - on March 5, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009