Steinitz: Protests were 'impressive,' solutions are needed

August 7, 2011 09:36

Finance Minister Yuval Steinitz on Sunday said that the social protests Saturday against the rising cost of living were "impressive," saying that "there's a need to find solutions to both housing and cost of living" issues.

Steinitz, however, warned that Israel's current economic standing needs to be carefully guarded, pointing to the economic difficulties faced by the United States and many European countries today.

"We'll do what we can," the finance minister said, discussing possible solutions a ministerial roundtable set to be presented by Prime Minister Binyamin Netanyahu later Sunday morning. "We can't live beyond our means," he added, saying that solutions must stay "within what we can [afford]."

One of the issues that will be discussed by the ministerial team, he said, will be the tax burden in Israel, "Taxes are on the agenda." He added that the issue is one of many that will be addressed in the coming two months.

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