Naftali Bennett Unveils Plan to Cut Israeli Food Prices by 30% and Break Monopolies

Former Prime Minister and "Together" party leader Naftali Bennett launched an aggressive economic plan on Tuesday aimed at reducing the high cost of living in Israel, particularly food prices. The "New Economic Agreement" program targets aligning Israeli food prices with the OECD average, potentially saving families around 8,000 shekels annually. Israel currently ranks fifth highest among OECD countries for food cost inflation.

Bennett's plan focuses on three main regulatory steps: dismantling monopolies by requiring their breakup, banning exclusive import agreements to allow multiple distributors for major brands, and forcing supermarket chain Shufersal to sell some stores in concentrated areas to increase competition. Bennett criticized dominant companies like Shufersal, Tnuva, and Shestovitz for maintaining monopolies that keep prices high despite currency fluctuations.

In agriculture, Bennett proposes direct support and grants for farmers, coupled with the gradual removal of tariffs, aiming to equalize Israeli farmers' conditions with those in Europe before opening markets to competition. On kosher certification, he advocates recognizing accepted Orthodox certifications from abroad without changing the Chief Rabbinate's procedures, to allow imports of kosher products currently blocked.

Bennett emphasized that tackling the cost of living will be anchored in coalition agreements and expressed readiness to confront entrenched interests. He also criticized the banking sector's high profit margins and proposed introducing deposit insurance and encouraging smaller banks to increase consumer choice. Bennett pledged to reduce consumer goods prices by 30% within two years, leveraging his business experience and willingness to challenge monopolies.

"What is happening here is anti-Zionist," Bennett said, underscoring his determination to reform Israel's economy and reduce living costs for ordinary families.