Netanyahu: Elections are choice between trade unionist and free economy

Prime Minister Benjamin Netanyahu and would-be finance minister Nir Barkat presented their vision for the Israeli economy under continued Likud governance on Sunday, promising a series of social reforms just 15 days before the nation returns to the polls. “Over the past decade, we have turned Israel into an economic powerhouse, one of the world's leading economies,” said Netanyahu, introducing Barkat at the Tel Aviv Stock Exchange. “A hi-tech power, a cyber power, an independent power. When I led it, I was mocked. Now we are bringing another six huge reforms that Nir Barkat will leads as finance minister.” Netanyahu listed a list of economic achievements as both prime minister and finance minister, hailing a free economy approach, plunging unemployment and the “eradication of the periphery.” He also cited estimated GDP growth in the fourth quarter of 2019, which stood at an annual rate of 4.8%, the Central Bureau of Statistics said on Sunday, The March 2 election, Netanyahu said, will feature a vote between an entrepreneurial economy under the Likud and a “trade union-dominated” economy led by rivals Blue and White. Barkat presented what he described as six “drastic” and “dramatic” reforms for the Israeli economy after the election, ranging from reducing property prices to increased investment in the periphery and healthcare. On Thursday, Netanyahu announced that Barkat was his pick to succeed outgoing finance minister Moshe Kahlon. “The choice in two weeks is between a free and successful economy or the trade unionist economy of [Benny] Gantz and [Avi] Nissenkorn,” said Barkat. “I have no doubt that the Israeli public will know what to choose.” The six reforms promised by Barkat include a “drastic reduction” in food prices; a “dramatic reduction” in property prices; “huge investments” in healthcare; “huge investments” in the Galilee, Negev and West Bank; “launching forward” small businesses; and advancing technologies of the future. “All of the reforms together do one main thing: they create economic growth and a dramatic reduction in the cost of living,” said Barkat. “All of them together will bring us a better future. It might sound ambitious, but we know how to do it.” Measures to lower the cost of food in Israel, Barkat said, include reducing customs and regulations, as well as breaking up monopolies and dealing with excessive concentration in the economy. To reduce property prices, Barkat vowed to free up additional land for the private sector and local authorities, in addition to providing subsidies to young couples. Two new hospitals will be completed and two additional hospitals will be announced, Barkat said, promising to increase the number of hospital beds by 700 every year. To enhance the attractiveness of life in the periphery, Barkat cited a plan developed in partnership with Harvard Business School economist Prof. Michael Porter to identify the competitive advantage of different regions. A Likud government, he said, would establish a new university in the Galilee and support desert technology in the South. Barkat vowed to freeze arnona for small businesses for five years and reduce regulatory barriers for self-employed workers. He also emphasized the need for Israel to lead the world in a range of technologies, and increase investment in 5G communication technology. “There might be a lot of skeptics. I remember it when I was at Check Point and when I proposed reforms in Jerusalem,” said Barkat. “When I hear skeptics, it wakes me up. Let's not allow the skeptics to control us.”

Netanyahu: Elections are choice between trade unionist and free economy

Prime Minister Benjamin Netanyahu and would-be finance minister Nir Barkat presented their vision for the Israeli economy under continued Likud governance on Sunday.

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Netanyahu: Elections are choice between trade unionist and free economy

Prime Minister Benjamin Netanyahu and would-be finance minister Nir Barkat presented their vision for the Israeli economy under continued Likud governance on Sunday.

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