Eli Cohen
Eli CohenArutz Sheva

Former Economy Minister MK Eli Cohen (LIkud) has presented a plan for reducing inflation and the cost of living in Israel.

"We need to freeze the price of electricity, water, and property tax, and bring about a gradual reduction of VAT (value added tax)," Cohen told Maariv.

"The fight against inflation and to keep prices stable is critical to every economy, but at the same time, fighting it only through interest takes time and harms businesses, households in general, and mortgage holders, and it increases the social gaps."

Cohen added, "The State increasing the cost of basic products fuels the rise in prices, since electricity, water, and property tax are needed by almost every business. These are essential services which are used in every home, which reduce the available income and harm the private consumption in the market."

"The Israeli government must enact an emergency plan to stop the rise in prices and reduce the cost of living, since the use of interest alone harms the economy, and especially the small businesses, reduces private consumption, expands the social gaps, and most of all harms those who have mortgages, who pay another several hundred shekel each month."