Steinitz: The gov't is ready to change tax, housing policy

August 17, 2011 19:36

Finance Minister Yuval Steinitz on Wednesday afternoon told head of the government's socioeconomic committee Manuel Trajtenberg that the government is willing to make changes involving the tax structure, housing, the cost of living and budget priorities affecting general welfare, Israel Radio reported.

However, the finance minister warned that Israel is currently in stormy days, in which the American economy is in turbulent times and that if we deviate from our principles, we'll fall off a narrow bridge and crash.

Professor Trajtenberg said that the country's economic priorities need to change but that compromises would be necessary because you can't have it both ways.

Addressing uneasiness toward slashing the defense budget, Steinitz said that there is no intention to to harm Israel's security or IDF soldiers and he promised that any budget cuts would be made responsibly and with discretion.

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