Rejection of Credit and Lending and Delaying Tax Payments • Report of the Economic Rescue Forum, appointed by the Minister of Economy, made a series of recommendations for reviving it

• Business flow relief recommendations were submitted // Photo: Oren Ben Hakon

Rejection of credit and loans in the economy for a period of six months, a significant and immediate increase in the rate of state guarantee loans and deferral of all tax and debt payments for three months - these are the main recommendations of the report "Miracle Forum to save the economy" submitted Sunday to the Minister of Economy Eli Cohen and the Prime Minister Benjamin Netanyahu.

In the report, recommendations were published on issues related to the economy as a whole, including employment, ease of business flow and ability to survive, local industry preference and investment incentives in Israel, strengthening households and a business compensation system. In addition to the general recommendations, the forum published specific recommendations for specific industries and the leading industry.

"The media operated 24/7 on the front"

In part regarding the incentive for employers, the report recommends to immediately divert the payments for the IAA, ie unemployment benefits, as payment to employers - this is to encourage the return of employees to work without increasing financial cost to the state. In addition, it is proposed to increase the lending rate to at least 50%, among other media, and to 80% in "risky" industries that are forced to stay closed longer because of the corona.

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In the report, members of the Forum wrote about the media: "During the crisis, it was of enormous importance to harness and function of the industry in terms of public information, transfer of information, instructions, access to medical information and more. The media put themselves at the forefront of the Corona crisis around the 24/7 hours, which was of great importance. "

It was further written: "Defining the industry as a vital enterprise in fact required them to invest many resources to manage operations during the crisis ... These industries - commercial television channels, radio, print and print shops were defined as essential, which prevented them from outsourcing workers to the USSR. During this period, there has been a drastic drop in advertising, amounting to over 50%, which has caused these branches of infinite flow distress. "

In part regarding the "local industry preference" there is a inherent contradiction: On the one hand, the report's authors call for a halt to regulatory difficulties against imports - a move that will certainly increase the cost of living for all citizens of Israel - while supporting "significant easing of regulation and barriers".

The forum was chaired by the Minister of Economy, Dr. Shlomo Ness, and included experts with extensive experience in the business sector: Dov Moran, Ronnie Kovarovsky, Lilac Asher-Topilsky, Dr. Shimon Elkabetz, CPA Alina Frankel-Ronen and Tomer Moore will make it clear that the government is under no obligation to follow the outline proposed by the forum.

Dr. Shlomo Ness, a company restoration expert and forum leader, said: "To curb the crisis on the one hand and to generate growth on the other - immediate, comprehensive and wide-ranging action is needed, along with informed, accurate and smart conduct. There is no time to make mistakes and the price can be extremely difficult. The committee has received support and assistance from all sectors of the economy, and the recommendations are expressed in all business sectors and sectors, including the third sector. "