Cabinet approves sweeping austerity measures

31.07.2012                      12.Aw. 5772

Steuererhöhung:

Cabinet approves sweeping austerity measures

Package of tax hikes, spending cuts passes in 20 to 9 vote; Shas, Independence, Likud's Kahlon vote against reforms.

The cabinet approved a series of sweeping austerity measures Monday, including tax hikes and spending cuts which it hopes will raise NIS 14.15 billion next year and reduce the budget deficit by 1.5 percent….