August Financial Aid Deal in the Works

Representatives of the business sector and treasury met yesterday to discuss compensation for northern business owners for August. The original deal covered lost wages and projected revenues for July.

The new agreement would take effect as of August 1, said Uriel Lynn, president of the Federation of Chambers of Commerce, and Oded Feller, president of the Haifa Chamber of Commerce, after meeting with Finance Ministry Budgets Director Kobi Haber.

Lynn has sharply criticized the original compensation deal, which he says favors big business over small business owners and the self-employed. According to Lynn, basing compensation on the number of staffers absent from work reduces motivation to go to work at all. It also favors salaried employees - who emerge with virtually unscathed pay stubs except for a lost vacation day or two - over the self-employed, who will bear almost the entire burden of the losses.