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.

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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.