Economic Party Chairman Yaron Zelekha Unveils Economic Plan, Criticizes Netanyahu
Translated & summarized from Ice by baba
Professor Yaron Zelekha, chairman of the Economic Party, presented a new economic plan focused on tax cuts and increased competition, while criticizing Prime Minister Benjamin Netanyahu. Zelekha stated he would only join a future government as Finance Minister under specific conditions, including mandatory military service for all. His plan proposes significant tax reductions, deregulation, and infrastructure projects funded by private concessions. He also vowed to confront economic power brokers upon entering office.
The story in 5 lines · by baba
- Yaron Zelekha presented an economic plan and criticized Prime Minister Netanyahu's government.
- Zelekha's plan includes tax cuts, increased competition, and curbing monopolies.
- He demands the Finance Minister role and mandatory service for all as conditions to join a government.
- The economic reforms propose VAT reduction to 12% and income tax capped at 40%.
- Zelekha vowed to confront tycoons, banks, and monopolies on his first day as Finance Minister.
Professor Yaron Zelekha, chairman of the Economic Party, presented an economic plan ahead of the elections, focusing on tax reductions, increased market competition, and curbing the power of monopolies and wealthy individuals. Zelekha stated that his potential participation in a future government is contingent on clear political conditions, including the role of Finance Minister and mandatory military service for all citizens. He criticized Prime Minister Benjamin Netanyahu, alleging that the government is beholden to wealthy donors and monopolies, and that he would reclaim the economy for the public. Zelekha challenged Finance Minister Bezalel Smotrich and Naftali Bennett to a public economic debate, asserting that politicians funded by tycoons cannot effectively lower the cost of living.
The proposed economic reforms include the immediate cancellation of the "trapped profits" law and the excess profits tax, a gradual annual reduction of VAT to 12%, and a decrease in income tax brackets to a maximum of 40%. Zelekha also aims to boost competition by eliminating import tariffs and quotas, prohibiting exclusive agreements between foreign manufacturers and Israeli importers, and limiting the influence of dominant importers. In agriculture, the plan calls for closing production councils for dairy, eggs, and honey. Regulatory changes proposed include transferring the Competition Authority to the Ministry of Finance and re-enacting a law against excessive pricing by monopolies, which Zelekha believes has been weakened by a High Court ruling.
Zelekha's plan also addresses infrastructure, proposing private concessions for national projects using BOT and PPP models, including the metro, high-speed rail to Eilat and Kiryat Shmona, new hospitals in the north and south, and an airport in Hatzor. He suggests establishing a new bank to address the concentration in the current banking system and implementing his 2012 recommendations to increase competition in the automotive market. Budgetary measures include abolishing coalition funds, freezing pensions for current civil servants, and cutting benefits for those he deems draft dodgers. He also proposes canceling broad exemptions from government tenders and appointing independent oversight committees for past non-tendered contracts.
Zelekha set firm conditions for joining a future government, stating he would only join a "Zionist" government that enacts mandatory service for all citizens and grants him the Finance Ministry. He declared, "We will not complete 61 seats for Netanyahu's government of evasion, nor 61 for Eisenkot's government with the Arab parties." He concluded by promising a firm stance against economic power centers, calling his first day as Finance Minister "the day of judgment for tycoons, banks, monopolies, and the corrupt."
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