Finance Ministry offers grants for each employee returning to work
The draft proposal published by Finance Minister Israel Katz aims to provide employers with grants worth NIS 7,500 for every employee who returns to the workplace after June 1.
By EYTAN HALONNew Finance Minister Israel Katz(photo credit: FINANCE MINISTRY)
The Finance Ministry revealed detailed plans on Tuesday to encourage businesses to bring their employees back to work by offering grants for each worker that returns to the workforce as coronavirus restrictions are quickly eased.The draft proposal published by Finance Minister Israel Katz aims to provide employers with grants worth NIS 7,500 for every employee who returns to the workplace after June 1. For employees who recommenced work after May 1, employers will receive NIS 3,500 per worker.Following its publication, the proposal is expected to be approved by the government on Sunday, before requiring the Knesset to approve an amendment to the basic law on the state economy.The grants will be paid by the Israel Tax Authority to employers from July in four installments over four months, and will depend on employers and employees informing the Israeli Employment Service regarding their return to work.“I am pleased to announce the launch of the program to support employment that I have developed,” said Katz. “This is a simple, implementable and effective grant designed to bring back more than one million unemployed individuals to the workforce as soon as possible, to lead the economy to rapid growth.”Figures published by the Employment Service on Tuesday showed that over 195,000 employees have returned to the workforce since restrictions were first eased on April 19. During the same period, approximately 102,000 new unemployment benefit applications have been submitted.
