Finance Minister Moshe Kahlon (Kulanu) clarified in the Municipal Corporations Association conference in Eilat that he does not intend to disassemble the Government Companies Authority's (GCA) so-called “A-Team system” for naming directors, but rather wants to make certain changes.
"I intend to keep the A-Team of directors but to fix existing distortions such as the lack of representation for young people," said Kahlon.
According to Kahlon making changes is necessary, and he noted that even “Mark Zuckerberg (the CEO and founder of Facebook) wouldn’t be able to join because he doesn’t have 15 years’ experience."
In regards to the housing issue, Kahlon said, "There are many self-advantageous positions being taken and the public is being told that prices will not declining. Do you really expect a contractor to say that prices will fall? Have you ever seen a chicken running to the slaughterer?”
"The problem in housing prices is the contractors’ greedy appetite. Today, the price of apartments is dictated by builders who do not want to give in. That’s the game. This will only change when tens of thousands of young couples will win the lottery and buy an apartment at a discount of hundreds of thousands of dollars,” said Kahlon.
The Finance Minister also referred to income tax collection: "When I entered the position, the Bank of Israel told me that it is impossible to pass the 2015-2016 budget without raising the tax cost by eight billion. We made a decision to reduce taxes and last month we got the result in the form of rise in consumption. Sometimes courageous decisions need to be made and if there is a continuous need for a surplus in tax collection, we will find the best way to return the money to the public. If reducing taxes is the correct choice - we reduce taxes."
In regards to banks reform Kahlon said, "We intend to expand the credit sources, not give out more. There is a serious failure today in Israel’s credit market. Bank supervisors and monetary governors are responsible for stability and competition. We will maintain the stability of banks, and also make sure there is competition."