Histadrut Labor Federation head Ofer Eini hailed the plan.
Speaking to Israel Radio, Eini said the some of the steps Fischer was proposing has already been raised by the Histadrut several months ago.
"The crisis necessitates the government to pump more money into the economy and to increase the budget deficit up to eight percent," he added.
The Histadrut head went onto say that he would not agree to a salary decrease of freeze for public sector employees, and that he backed negative income tax to boost consumerism.
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