The recommendations of the committee on economic concentration would focus on the economy's wealthiest individuals, Bank of Israel governor Stanley Fischer said Sunday. The panel's findings are due for release Monday.
"I hope the tycoons will continue to be rich even after the recommendations are carried out," Fischer said at a press conference in Jerusalem.
"So far, they have done nothing criminal. Attacks on them endanger the economy," the central bank governor said, defining such attacks as "populist."
Fischer, who said he had seen the committee's report last week, called economic concentration one of Israel's thorniest economic problems. He also said the government would have to focus on implementing the recommendations of the Trajtenberg Committee on socioeconomic change. He said the Trajtenberg Committee was right to pledge not to exceed the budgetary framework, and warned against further lowering of taxes that he said could increase the deficit.
As to the possibility of cutting the defense budget to fund the Trajtenberg recommendations, Fischer said: "We are not a normal country and this prevents giving citizens what they get in other countries."
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