Lapid Unveils Plan to Cut Spending by a Deep NIS 26 Billion in 2013-14 Budget

Proposal includes some NIS 5 billion in tax hikes and sets a modest target of NIS 231 billion in tax-collection revenues for 2013.

Finance Minister Yair Lapid told Prime Minister Benjamin Netanyahu and Bank of Israel Governor Stanley Fischer yesterday he plans to cut some NIS 26 billion from the 2013-14 budget.