BREAKING NEWS

PM vows to cut regulation, calls regulators ‘cartel’

FEBRUARY 27, 2014 11:50

Prime Minister Binyamin Netanyahu on Thursday vowed to cut burdensome regulations that stand in the way of business.

“There’s an excess of regulation in Israel, and we are determined to cut down the bureaucracy and regulation,” he told the Manufacturer’s Association of Israel at their general assembly in Tel Aviv. “The primary barrier is the cartel of the regulators, and I intend to take care of it.”

Israel has over 200 regulators and thousands of regulatory ordinances, he said, none of which look beyond their own regulatory domain or coordinate with each other. No mechanism exists for calculating the cost of regulations, he added.

After sliding down the World Bank’s rankings for ease of doing business in recent years, Israel’s rose four places in 2014, from 39 to 35.

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