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5 Kislev 5772 - December 1, 2011 | Mordecai Plaut, director Published Weekly
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NEWS
Rabbi Gafni Calls on Government to Increase Assistance to Small and Mid-Size Businesses

By Eliezer Rauchberger

The Knesset Finance Committee called on Prime Minister Binyamin Netanyahu and Finance Minister Yuval Steinitz to increase government assistance to small and medium-size businesses.

"In light of the economic state worldwide and the difficult financial condition the Israeli middle class faces, the assistance available to small and mid-size businesses should be increased and the criteria for assistance should be made more flexible," said Committee Chairman MK Rabbi Moshe Gafni during a special Finance Committee meeting on the issue. "In particular, the export criteria for factories that export less than 25 percent of their output should be reevaluated.

"Many small and medium businesses are in danger of closing and employee layoffs," added Rabbi Gafni. "Small and medium-size businesses are the primary business anchor of Israeli society."

The meeting was initiated by MK Ruchama Avraham (Kadima), who noted that "the state gives NIS 5.5 billion to established industrial plants listed on the TA-25 index, but during the period of economic slowdown and social protest it is considering raising taxes for small and medium businesses, which are considered the most substantial engine of growth in the economy."

"Over 430,000 small and medium-size businesses are discriminated against, despite the fact that they employ 55% of the workforce and contribute 45% of the GNP. They are the backbone of growth. In fact, President Obama praises small and mid-size businesses in every speech he gives. In Israel, these business owners have to confront a slough of obstacles. On one hand, a lot of bureaucracy, and on the other, a heavy tax burden that could increase still further. On top of that, the Bank of Israel is tightening regulations."

 

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