Netanyahu, Katz reveal NIS 80b. economic relief plan
The prime minister said that he and Katz “overcame almost impossible obstacles” to come to this plan and, “if needed, we will bring even more plans in the future.”
By HAGAY HACOHENIsraeli Prime Minister Benjamin Netanyahu sits next to foreign minister Israel Katz during a cabinet meeting(photo credit: REUTERS)
Prime Minister Benjamin Netanyahu and Finance Minister Israel Katz revealed a NIS 80 billion national rescue plan on Thursday to help address the needs of one million unemployed Israelis and to ensure the country’s middle and lower classes will not crumble under the financial hardships caused by the coronavirus pandemic.The prime minister said that he and Katz “overcame almost impossible obstacles” to come to this plan and, “if needed, we will bring even more plans in the future.”The plan focuses on three sectors of the business community: self-employed, businesses and workers in general.Starting next week, self-employed Israelis and business owners who cannot work will be given a NIS 7,500 grant without them having to ask for it. The move will cover roughly 380,000 people.This financial support will be given to self-employed workers at least through June 2021.Moreover, businesses that can prove they have lost as much as 40% of their revenue will also receive support commensurate to their losses.The prime minister committed to providing vocational training to unemployed workers who wish to gain new skills that could make them more readily employed and advance the Israeli economy.Finally, Netanyahu said that those over the age of 67 who were forced to stop working because of the virus will receive NIS 4,000 per month until the year ends to help them adjust, aid that requires Knesset legislation.The Israeli Employment Service reported Thursday that the unemployment stands at around 21%.The plan is meant to be approved on Sunday and Israelis are expected to see the money in their bank accounts on Wednesday.
“Because Israel’s economy is solid, world famous, and I am very proud of it,” Netanyahu explained, the country can take loans at a low rate should it need to do so. “This will not solve all issues, but I will be involved at all times to ensure you will get the funds and be able to support yourselves in these hard times.”Netanyahu blamed Israel’s bureaucracy for previous attempts to help these workers, and said he would make all efforts to ensure this did not challenge the plan this time around.Ahead of the plan’s unveiling, producer Ronen Maili, who is among the leaders of the 200,000-member group of self-employed Israelis who are unable to operate due to the coronavirus crisis, spoke with Radio 103. He said that he and others like him will take to the streets on Saturday as Netanyahu has been unable to deliver the promised aid so far.It is unclear if these protests will still take place now that the plan has been shared with the public.The prime minister also used the platform to call on his coalition partners to agree to pass a “rapid budget” that would last for six months. Alternate Prime Minister and Defense Minister Benny Gantz is asking to pass a more long-term budget that would hold until the end of 2021.Netanyahu and Gantz agreed, when they entered an emergency unity government to help the nation during this outbreak, that whomever prevents a budget from being passed in Knesset will step down and leave the others to rule until new elections can be held. Interior Minister Arye Deri claimed Netanyahu is pushing for new elections.
