The Trajtenberg Committee – appointed by the government last month to examine ways to implement socioeconomic change – is expected to recommend a serious cut to the defense budget as part of its findings, Channel 2 News reported Wednesday evening.

According to the report, the committee will suggest that NIS 1 to 3 billion be cut from the Defense Ministry’s budget next year, in order to provide part of the funds needed for a more socially-oriented financial plan.

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Additionally, the committee will reportedly recommend increased oversight and transparency on defense-related spending.

In changes to the education system, Channel 2 reported that the committee will propose gradually-implemented free education from age three, a longer school day and funding for increased supervision and regulations on day care institutions.

In the field of taxation, the committee will advise the government to grant fathers of young children benefits only presently given to mothers, as well as higher taxation on the stock market for the wealthy.