Cabinet approves sweeping austerity measures

July 30, 2012 18:31


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The cabinet approved Monday a series of sweeping austerity measures including tax hikes and spending cuts which it is hoped will raise NIS 14.15 billion next year and reduce the budget deficit by 1.5 percent. The reforms passed with a majority of 20 to nine, with the only ministers voting against hailing from the Independence and Shas parties, as well as Welfare and Social Services Minister Moshe Kahlon (Likud.)

Value Added Tax will rise by one percentage point to 17% Wednesday. All income between NIS 8,881-41,830 per month will be taxed an extra 1%, while all income above NIS 67,000 per month will be charged a 2% surtax, starting January 1.

Related Content

Breaking news
August 19, 2018
Egyptian monks sent to trial over killing of bishop