Prime Minister Binyamin Netanyahu on Tuesday said that his government fully accepts the recommendations of the Sheshinski Committee in regard to taxation of profits from Israel's natural gas fields.
"The committee found the proper balance between the needs of Israel's citizens and the investors; therefore, I have decided to accept the conclusions," said Netanyahu speaking at a conference of secretary-generals in Jerusalem.
Netanyahu said that he intends to set up a fund for education in elementary schools and high schools with the money earned from taxing the natural gas profits. He added that some of the money would go towards defense.
"There is no doubt that this resource is a strategic point which Israel's enemies will attempt to hurt. Therefore, I decided that Israel will take part in defending the property of this project."