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The Economic Program - Key Points

07 ינואר 2013

 

The Yachimovich Plan for a Fair Economy

 

The program will increase families' bottom line by bringing back basic government services and reducing the tax burden on the middle class.

Goals:

  1. Reduce social inequality to the OECD average
  2. Bring back basic government services
  3. Create economic growth to benefit the entire population and strengthen the middle class

The plan consists of five points; the major components in each field and their sources of funding are described below.  The Plan is designed to dramatically change socio-economic policy in Israel in a measured and responsible manner.  After the dark era of the Israeli economy as governed by Benjamin Netanyahu, we anticipate the return of a fair economy and a just society in the Yachimovich era.

 

1. Bringing back basic services

 

Health

  • Offer public long-term health insurance for all
  • Reverse the privatization of health services for schoolchildren
  • End “hallway hospitalization” in overcrowded hospitals
  • Decrease co-pay premiums to HMOs while improving quality and access
  • Regular updating of the subsidized health care services basket
  • Work towards more equitable distribution of health insurance
  • Invest the health budget in the public health system
  • End subsidies to the private health system by the public system

Education

  • Offer free education beginning at age 2
  • Increase spending significantly on elementary and secondary education, in order to raise educational standards and decrease payments imposed on parents
  • End the practice of hiring teachers as contractors in the education system

Transportation

Invest heavily in public transportation in metropolitan areas in order to improve public transportation, based primarily on bus services in big cities.

Social welfare and security

  • Extend paid maternity leave to 16 weeks
  • Cancel fees for social welfare services
  • Directly employ social workers in the public sector
  • Guarantee income as an incentive to work
  • Fund social welfare services provided by local government authorities progressively
  • Expand and develop the national program for at-risk children and teenagers

Local government

 

  1. Increase and guarantee balancing grants to local authorities
  2. Pass legislation regarding strong municipalities, enabling them to increase their independence
  3. Work towards equality in local government funding

 

Personal security

Offer a fast and high-quality response to citizens from the police, reducing crime and strengthening the fight against white-collar crime by adding approximately 5,000 police officers.

 


Public administration

 

  1. Stop privatization processes
  2. Decentralize and streamline budgeting decisions
  3. Reform and improve public services
  4. Limit the use of the Economic Arrangements Law

 

2. Fair wages

 

Employment

  1. Undertake active government policy of investment in the labor market, with a modern and customized system for job placement and professional training
  2. End subcontracted employment in the public sector
  3. Strengthen enforcement of labor laws
  4. Raise the minimum wage
  5. Pass a law defining the government's responsibility for raising employment levels

Capital markets

  1. Limit the extent to which traders can buy on margin
  2. Rein in conflict of interest transactions
  3. Limit executive salaries at public companies
  4. Limit the use of dividends to finance leveraged buyouts
  5. End linkages between controlling owners and business valuation appraisers
  6. Dismantle pyramid structures

Pensions

 

  1. Raise the rate of promissory notes used to ensure pension savings
  2. Subsidize pension contributions for low-income workers
  3. Fully utilize pensions for low wage earners

 

3. Lowering housing and food prices

 

Housing

 

  1. Offer affordable housing for the middle class – build thousands of housing units in popular areas on public land
  2. Build public housing for those entitled to it
  3. Offer significant support for those entitled to public housing in purchasing an apartment
  4. Clarify landlord and tenant rights as a step towards creating a long term rental market
  5. Strengthen the planning and management framework for Israel Lands


Food prices

 

  1. Lower VAT on basic goods
  2. Enforce the price controls on essential food products
  3. Offer incentives to strengthen small and medium-sized businesses in the food market

 

4. Fair competition

 

Independent small and medium-sized businesses

 

  1. Increase access to non-bank credit
  2. Enlarge the assistance fund for small and medium businesses
  3. Offer easier access to credit
  4. Allow participation in government tenders
  5. Provide unemployment insurance for freelancers
  6. Provide severance pay for freelancers

 

Industry

 

  1. Invest heavily in professional and technological education
  2. Enlarge the chief scientist's industrial research and development budget
  3. Establish nine modern industrial areas serving regions in the periphery
  4. Offer incentives for employment of high-tech engineers in the periphery

 

5. Fair taxation

 

Natural resources

Establish a national natural resources fund for social and economic development


Taxation

 

  1. Repair the damages caused by Netanyahu’s corporate tax reform
  2. Pass legislation geared towards encouraging differential capital investments
  3. Expand tax collection and put an end to tax evasion
  4. Collect taxes on trapped profits
  5. Tax profits from natural resources
  6. Raise the income tax for those earning more than 50,000 NIS per month
  7. Equalize capital gains tax with work income tax
  8. Tax inheritances above 15 million NIS at a rate of 5%
  9. Cancel the reduction of import duties

Responsible fiscal policy

 

  1. Cancel spending limits in a responsible manner
  2. Gradual increase in civilian infrastructure financed by the tax system
  3. Cap annual debt at 3%
  4. Allow the possibility of increasing the deficit during a recession

 

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In the last few weeks, Labor Party MKs and candidates have been featured in the major English-language newspapers. These have included:
The crises in climate, energy, natural resources and food sources are no longer marginal topics on the public agenda, but rather major issues of great importance, holding central positions on the desks of the governments worldwide. These issues influence Israel's national resilience, and the quality and standard of living for all its citizens.

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