Economic Party Aims for Knesset Seat, Promises Price Cuts
Translated & summarized from Bizportal by baba
Professor Yaron Ze'likha, chairman of the Economic Party, is running on a platform to combat monopolies and lower the cost of living, promising significant price reductions and increased competition. His party, polling at four mandates, advocates for sweeping economic reforms, including tax cuts and a crackdown on exclusive import deals. Ze'likha insists he will only join a government if appointed Finance Minister, emphasizing his commitment to his ambitious economic agenda.
The story in 6 lines · by baba
- Yaron Ze'likha's Economic Party aims to be the first purely economic party in the Knesset, polling at four mandates.
- Ze'likha promises to lower the cost of living by an estimated 250 billion shekels through reforms.
- He plans to dismantle monopolies and tackle exclusive import arrangements, which he calls "licensed cartels."
- Ze'likha claims his previous work in the Finance Ministry led to a "golden age" of economic growth.
- He insists on being appointed Finance Minister as a condition for joining any future government.
- The party is allied with reservists associated with Yoaz Hendel.
Professor Yaron Ze'likha, chairman of the Economic Party, is campaigning on a platform of deep economic reform, aiming to lower prices and restore competition in sectors dominated by monopolies and wealthy owners. Ze'likha, who previously served as director of the economic division in the Prime Minister's Office and as Accountant General in the Ministry of Finance, claims his tenure in the 2003-2007 period was a "golden age" for Israel's economy, during which he implemented policies that led to 7%-8% growth, reduced taxes significantly, and lowered housing prices. He asserts that since then, Israel has become a "paradise for monopolies" and a "hell for young couples," with soaring prices for housing, cars, food, and essential services due to a lack of competition and preferential treatment for large corporations.
Ze'likha's party, in alliance with reservists associated with Yoaz Hendel, is polling at four mandates. He proposes a sweeping reform to dismantle monopolies, transfer the Competition Authority to the Ministry of Finance, and reduce VAT and corporate taxes. These savings, he argues, could fund health and education expenses. He also plans to tackle exclusive import arrangements, which he likens to licensed cartels, by banning them in the first set of regulations, abolishing food tariffs and import quotas, and restoring the power of laws against monopolies charging excessive prices.
He believes his reforms will not only lower the cost of living by an estimated 250 billion shekels but also boost employment and business activity, creating tens of thousands of new jobs. Ze'likha also commented on the defense budget, noting its significant increase following the recent war after a period of decline. He suggests the current dollar exchange rate is unrealistic due to import competition issues and predicts his reforms would lead to a stronger shekel. Ze'likha stated he would only join a future government if appointed Finance Minister, regardless of who leads it, and would not compromise on this demand.
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