Lapid Presents 'No New Taxes' 2015 Budget

Finance Minister Yair Lapid on Sunday held a press conference to present the main points of the state budget for 2015.

Yaakov Levi,

Down, but not out? Yair Lapid
Down, but not out? Yair Lapid
Flash 90

Finance Minister Yair Lapid on Sunday held a press conference to present the main points of the state budget for 2015, after an announcement Saturday night that he and Prime Minister Binyamin Netanyahu have overcome most of their differences over the matter.

Lapid said at the press conference that the new budget will "fulfill what we have promised to the Israeli public – providing social services, security, and addressing concerns about housing, welfare and education. We expect to have higher growth in 2015 than in most European countries," Lapid said.

Lapid confirmed the recent reports that the budget for the Defense Ministry will get a budget increase of NIS 6 billion, The deficit target will be 3.4%. At the press conference, Lapid said that he had resisted pressure to raise taxes to deal with expenses generated by Operation Protective Edge. “Raising taxes is the last thing the economy needs now,” Lapid said. “We will expand the deficit in a measured and reasonable manner,” he said.

Lapid also pledged to “continue to struggle on all fronts to reduce the cost of living in Israel,” and if he has to oppose the security establishment to accomplish it, then so be it.

“I know the tradition is that the Finance Ministry always wants to cut the defense budget, but that is not the case. We understand that we face a unique situation and are committed to allocate resources needed to address dangers such as the tunnels, mortars, and other issues,” he added.




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