Today (Monday), Finance Minister Moshe Kahlon announced his intentions to lower taxes for Israel’s next state budget to allow for more economic growth. In addition, Kahlon plans to lower corporate and income taxes for people with low to medium salaries.

Finance Minister Kahlon announced: “In the next budget we will lower taxes by billions of shekels. Last year there were also criticisms and attacks – and the step was proven correct.”

“We’ll lower taxes by billions”
Flash 90/Channel 2 News

“We’re entering the final stretch of formulating the state budget for the next two years,” said Kahlon at a Kulanu party meeting. “As I promised, we are going to focus on steps that will encourage economic growth in the next budget.” Kahlon noted that the main tools in his method for economic growth are investments and lowering taxes.

 

“Last year when we decided on lowering VAT and corporate taxes, there were also criticisms and attacks on the step,” added Kahlon. “Today, the step was proven correct and whoever had attacked has admitted that he was mistaken. Tax money is money that belongs to the public and when there is a surplus, it is our duty to return it to the citizens,” said Kahlon.