The Finance Ministry will seek cabinet approval for a proposal to cut NIS 2.5 billion from the 2009 defense budget, Israel Radio reported on Monday. According to the report, the ministry was also weighing a second option, under which NIS 1.3 billion would be cut from the budget, while the remainder of the cash, NIS 1.2 billion, would be invested in social welfare budgets. The IDF warned that the cuts would mean its multi-annual budget, approved just a month-and-a-half ago by the government, would be impossible to implement. The cabinet will consider both proposals at its next weekly meeting, Israel Radio reported. The Treasury said it would hold a press conference on Tuesday morning, when it would unveil the details of the proposal.