Business
Opinions
The government can not freeze the image and press PLAY
"Will they tell me that there is not enough money? And I tell you, as someone who was there, that there is. Israel must raise the necessary funds in loans from the world's capital markets to get the business owners out of the economic grave they are in."
Prof. Shimon Sheetrit demands that the government start working for the citizens
Tags
economy
Prof. Shimon Sheetrit
Tuesday, 19 January 2021, 17:32
Share on Facebook
Share on WhatsApp
Share on general
Share on general
Share on Twitter
Share on Email
0 comments
Edelstein will offer to extend the closure by two weeks;
Netanyahu: ...
Livnat Poran - Walla Studio!
NEWS
More than two million Israelis have been vaccinated against Corona; ...
USA: Joe Biden Introduces Financial Aid Program for Coping ...
Trump condemned the onslaught on the Capitol in parallel with his ouster ...
Eco-friendly snacks
Despite the closure: In the Talmud Torah "Hachmat Shlomo" in Jerusalem ...
Netanyahu paid tribute to Sheldon Adelson: one of the greatest contributors to the people ...
Tightening the closure: 25 roadblocks were set up on roads throughout ...
Residents of the Tzahala estate
In the video: The police enforce the corona regulations (Photo: Israel Police spokeswoman, edited by Amit Simcha)
We are still deep in the corona crisis.
On the one hand, the rate of infection is still high, and on the other hand there is room for cautious optimism thanks to vaccines.
There is a feeling that in the medical field, with all the difficulty, in Israel there is light at the end of the tunnel.
However, in the economic field we are in a very difficult situation when it is estimated that we have about 750,000 unemployed employees and about 75,000 businesses that have closed - this is definitely a difficult event.
As a minister in the Israeli government, and especially as the Minister of Economy in the government of the late Prime Minister, the late Yitzhak Rabin, I can of course analyze the way in which the government took care of the economic health of the residents, especially business owners, including small and medium business owners. There were things that were done correctly and satisfactorily and there were decisions that did injustice to the public.
But, I choose to look ahead. And I first want to say something normative, that I have not heard from anyone, on the contrary - we heard the opposite. Finance officials have repeatedly said in the media that they are not Can return the economic situation of the business owners to their pre-Corona situation. This is a sentence that goes by the ear and everyone takes it for granted. And I say - "no". The Israeli government has made a social contract with us according to which we obey its instructions - and she, the government will take care of us. That the government has done a lot, provided salaries for long months as part of the Knesset, and has also provided funds to some business owners.
ABL, in the test of the result - businesses closed, business owners went bankrupt and had no revival.
And importantly, these are people who have spent their entire lives in their small business.
The business is dead and their hearts are dead with it.
Painless treatment
The technology in shoes that will save you from back and knee pain
To the full article
It is no longer possible to accept the thesis that "there is nothing to do" when so many people have lost their livelihoods (Photo: Reuven Castro)
I do not accept the thesis that "there is nothing to do".
There is something to be done and in looking ahead I call on the government to do it and examine the total losses of all the small and medium businesses in the country due to the corona and by how much their profits have gone down.
It is not wise to expect a business owner to eat savings, some of which are used for his and his family's pension.
I expect the government to show generosity.
It's time to do justice to the small business owners who depend on their home business to bring food home, and they are even responsible for the livelihoods of those who work for them.
Yes, I expect the government to bring the small and medium business owner back to its pre-Corona state.
Like in movies that freeze the image and then press PLAY and everything goes back to normal.
This is not unreasonable, and the calculation can be very simple: the average profits of the last 3 years, or in less old businesses - two years, or a year less, how much the state has already given them.
Will they tell me there is not enough money?
And I tell you, as someone who has been there, that there is!
Israel must raise the necessary funds in loans from the world's capital markets to get the business owners out of the economic grave they are in, as well as return them to their starting point.
That's right.
The result will be that the owners of many businesses, including those that have already closed, will be able to revive the business, provide employment for many employees, support their families, return to the economic status they were in before the Corona.
This is our social and moral commitment.
No partial compensation - full indemnity.
The government must help generously.
Prof. Shimon Sheetrit (Photo: PR, Lior Yado)
And there's another group I love.
Entrepreneurs who set up their dream business in 2019 or early 2020. They received almost no compensation because there were no previous years to which the decline in revenue could be compared.
And I say - if we, as a society, abandon these people - we are doing them an injustice.
Only those who set up a business, invested tens or hundreds of thousands of shekels in it, took loans to finance the establishment of the business on the assumption that the business income will pay the debt - only such a person understands what it means - when someone suddenly comes and disconnects you from the business and the world.
This is a tragedy.
The government must also generously assist these business owners in a way that will allow them to breathe.
When these people come to the banks - the banks refuse to give them a loan, even with a state guarantee, because this is a business that has not yet proven itself.
I am in favor of the state reaching an agreement with the banks to fully guarantee the money for business loans that are not counted anywhere, and these loans will be for long periods, 10 years, at a particularly minimal interest rate, since it is a completely safe loan and a grace period.
Bottom line - I call on both the current government and the next government to make sure that from now on, and retroactively, business owners, who support hundreds of thousands of families, will not deteriorate financially in an irreparable, unjust way.
The state owes it to them.
Prof. Shimon Sheetrit is a former Minister of Economy and a candidate for the presidency of the state
Share on Facebook
Share on WhatsApp
Share on general
Share on general
Share on Twitter
Share on Email
0 comments
