Once it is declared all Palestinians are now in the care of Palestine. Welfare programs, medical, education, industry and unemployment and employment ventures. This could only be good for Israel. A State has obligations to it;s citizens and needs to provide for them, it can not also live on UN and international aid handouts but needs to provide industry and jobs. This will mean austerity for the Palestinians but such is normal for anything new born, it took Israel several decades to become financially capable and life was austere for the first few decades. Gaza is another matter all together, with their theological and military war against Israel, it can never expect open borders with it's neighbour.
Magnitude 4.2 quake strikes near Grand Coulee Dam in Washington (Reuters)