This year’s annual arrangements law, which is usually passed at the same time as the state budget, is expected to include a number of policies that seek to rectify longstanding issues with the budget. Among these issues are canceling import blockers, increasing competition between the banks in the hopes of making banking more attractive to customers and citizens, as well as other steps to help boost the Israeli financial markets. The steps have already received permission from the Treasury Minister Yisrael Katz and Prime Minister Netanyahu. They still need to be accepted by the rest of the government and are expected to be brought before the Attorney General’s office on Thursday evening to get his opinion on the matter. Even though Prime Minister Netanyahu and alternate Prime Minister Benny Gantz have not yet agreed to a budget outline for the year, the Treasury wants to move forward with the Arrangements law to allow for enough time to have the changes involved pass in the Knesset. One of the subjects in the new arrangement law is what is termed as the Cornflakes reform, which includes a lowering of import fees for dried foods. The point of this reform is to lower the overall cost of food. Another change would be to lower the import fees on perfumes, deodorants, and other bodily hygiene products. Both of these changes aim at lowering the cost of living, in Israel. The Arrangements Law is a government-sponsored bill presented to the Knesset each year alongside the State Budget Law. It incorporates government bills and legislative amendments that are needed in order for the government to fulfill its economic policy. The law is also referred to as the “Economic Policy Law”. The Arrangements Law is subject to fierce criticism within the Knesset and among the public. Its critics claim that it contains extensive reforms in the state economy and legislation that is not essential for passing the State Budget. It is further claimed that the law is passed in a hurried process which does not allow Members of Knesset to hold a thorough discussion and formulate their positions on the issues it deals with. (YWN Israel Desk – Jerusalem)

The post Government To Amend Longstanding Economic Issues In New Annual Arrangements Law appeared first on The Yeshiva World.