Bennett, Barbibai and Liberman present economic plan
Bennett, Barbibai and Liberman present economic plan Amos Ben Gershom, GPO

On Wednesday night, Prime Minister Naftali Bennett, Minister of Finance Avigdor Liberman and Minister of Economy Orna Barbibai presented their economic plan to reduce the cost of living.

Prime Minister Bennett said: "We are lowering tariffs on a variety of consumer goods including meat, eggs and furniture. What guides me is that our country will be a country where those who work for a living can live here with dignity. Our government has set itself the goal of helping families. We are signing a new contract between the state and its citizens."

Bennett announced at the press conference that the government intends to reduce the tax per employee by NIS 223 per month for each child aged 6-12. "A family with two parents and three children at these ages will enjoy another NIS 1,300 every month."

The prime minister noted that the government intends to lower tariffs "on a variety of consumer goods such as meat, fish, flour, olive oil, eggs - which everyone uses, as well as furniture and kitchen utensils."

The government will also increase the subsidy for daycare, including for localities in socio-economic groups 4 and 5. The government intends to increase the labor grant by 20%, and work to reduce electricity rates, among other things, by abolishing the excise tax on coal.

Liberman said: "Coal prices on an annual basis have jumped by 100 percent, and this has caused an increase in electricity prices. The abolition of excise tax will eventually significantly lower the electricity rate."

On the rise in prices in recent weeks, Bennett said: "Prices are rising but we will bear some of the burden. This is a new contract between the state and the citizens, a fair contract. Whereby the citizens who work and bear the burden of maintaining the state deserve to preserve their salaries more. Our task is to take less taxes from them and create, with great courage, real competition that will reduce prices."

Finance Minister Liberman added: "It is important to emphasize, despite the timing, even without all the recent rise in prices, even without all the uproar in the media, we would have published the same steps today."

"I tell you, there are more steps in a month, in less than a month, this is not the last package," Liberman promised."I want to thank the public. The public has really behaved responsibly."

Prime Minister Bennett also addressed the haredi community in his statements. "The haredim also consume baby strollers, flour and eggs, but in our steps we are making a value-based statement - people need to work. We will take less money from working families."