Itzik demands parties pay back loans

Top offenders are the Likud and Labor Parties, which owe 16m. and 11m. respectively.

November 13, 2007 22:11
Itzik demands parties pay back loans

Daila Itzik 224.88. (photo credit: Ariel Jerozolimski)


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Several of Israel's top political parties owe the Knesset millions of shekels, and Knesset Speaker Dalia Itzik is no longer interested in extending their credit. On Tuesday, the Knesset's Law and Constitution Committee announced that it would submit a law, at the behest of Itzik, to reevaluate the loan payment plan for political parties. Under the new law, the Committee for Public Service would be tasked with creating a new plan for the parties to return their loans, which are currently placed at upwards of NIS 30 million. According to Knesset officials, Itzik hopes the new plan will force parties to repay these loans faster. The top offenders are the Likud and Labor Parties, which owe 16m. and 11m. respectively. "This money will be paid back. It has always been in the budget of the party to pay it back," said a Likud Party spokeswoman. The money was given to the parties as part of the Law for Party Factions, which allows political parties to take out loans during the national and local elections. The law limits the amount of money that parties can accept from private donors and defines how the money should be spent.

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