PM: Strong economy is the most important social justice

July 31, 2012 20:59

Maintaining a vibrant economy is the most important kind of social justice, Prime Minister Binyamin Netanyahu said in a Tuesday night interview with Channel 1.

"I have a responsibility to watch over the economy, and that is the most important kind of social justice," Netanyahu said in defense of the government's decision to cut budgets and raise taxes.Society's weakest sectors would only contribute to 3 percent of the approved tax increases, Netanyahu argued, highlighting that capital gains, corporate tax, and taxes on the wealthy accounted for a majority of the NIS 15 billion in new government revenues.

Relative to the crisis in Europe, the stagnation in the US and the slowed growth in China -- all factors Netanyahu cited as dragging on Israel's export-based economy -- Israel was still doing rather well, Netanyahu said. "Why is the economy good? Because we managed it properly!"

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