BREAKING NEWS

Law meant to restructure economy passes

DECEMBER 9, 2013 22:05

The Knesset authorized a bill to reduce concentration in the market in its final vote Monday night, with 72 MKs in favor, and none opposed.

"Passing the Market Concentration Bill is good and encouraging news for the future of the Israeli market," Knesset Finance Committee chairman Nissan Slomiansky (Bayit Yehudi) said, presenting the legislation to the plenum. "Today, we radically changed the structure of the market and made it suit the needs and interests of the public."

According to Slomiansky, the bill will end a situation in which "the public's money was taken advantage of by a small number of wealthy people for their own welfare," bringing money back to the public and protecting savings and pension funds.

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