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Lapid: Budget cuts hurt middle class, but good in long-term

By JPOST.COM STAFF

MAY 7, 2013 12:43

Finance Minister Yair Lapid defended his budget draft which was attacked by the opposition on Tuesday, saying, "That is exactly the meaning of taking responsibility: to do what is difficult, with the clear knowledge that people will be angry with you."

Writing on his Facebook page, Lapid stated that he would not be like "wasteful politicians," in other countries that had not stood up to pressure and led their states into economic disaster. He vowed that in two years time, the country would look "completely different."

Lapid, claimed that "for the first time in years, the Israeli middle class is not the only one paying the price. This time we also went to places that no one dared touch: to corporate tax, to luxury items, to the capital investment encouragement law, to sectors that until today were politically immune."

Lapid added that, while the middle class would be hurt by the budget cuts in the short-term, in the long-term the cuts would serve to bring down the cost of living, add jobs, bring down housing prices and bring about equality in the service burden.

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