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Today: The Knesset will vote on grants Israel today

2020-07-26T21:01:30.000Z

| economyAccording to the outline, every citizen will receive NIS 750, and parents will receive an additional NIS 500 for each child up to the third child • The goal: to transfer the money later this week • MK Gafni opposes, and demands additions for the fourth and fifth child Netanyahu presents the grant program Photo:  Kobi Gideon - GPO The "grant for every citizen" program was approved by the gover...



According to the outline, every citizen will receive NIS 750, and parents will receive an additional NIS 500 for each child up to the third child • The goal: to transfer the money later this week • MK Gafni opposes, and demands additions for the fourth and fifth child

  • Netanyahu presents the grant program

    Photo: 

    Kobi Gideon - GPO

The "grant for every citizen" program was approved by the government yesterday and will be submitted to the Knesset for approval today; This is to transfer the funds to the citizens during the week.

As part of the program, which has a total cost of NIS 6.5 billion, a grant of NIS 750 will be given to every citizen aged 18 and over. Parents of children up to the age of 18 will be entitled, for only the first three children, to a grant of NIS 500 per child, so that a couple with three or more children will receive NIS 3,000.

"Grant for every citizen": Prime Minister Netanyahu and Finance Minister Katz present the new economic plan // Photo: GPO

MK Moshe Gafni, chairman of the finance committee to which the plan will be submitted for approval, has already announced that he opposes the plan in its current form, as it does not provide a financial supplement for families with four or more children - a common phenomenon in ultra-Orthodox society. "MK Gafni stands by his unequivocal demand not to discriminate against the fourth and fifth child from the grant program," Gafni's office said yesterday.

As previously reported, weak and supported populations, including recipients of disability benefits, old age, nursing or income support, will receive an additional NIS 750 on those that will be granted to all citizens. On the other hand, citizens with an income of more than NIS 650,000 in 2018 or 2019 will not receive a direct grant, but a grant for their children. Initially, the restriction was supposed to include income holders of up to NIS 30,000 in the public sector - but the ombudsman blocked this option.

During the cabinet meeting, the prime minister said that he was seeking to pass the plan in "flash legislation in the Knesset, so that the money will reach you, the citizens of Israel, as quickly as possible." According to Netanyahu, "additional programs are planned in the pipeline to encourage the economy and to inject money into those affected by the corona."

Deputy Prime Minister and Defense Minister Bnei Gantz also welcomed the plan and took credit for the differential grants, according to income level: "As we pushed in blue and white," Gantz wrote on Twitter, "this is a tiered program that gives more to those who have less. "Recipients of nursing allowance, new immigrants and the elderly. More for people who will consume and move the economy through it."

Finance Minister Israel Katz stressed that "we will bring the plan to the Knesset for approval with the aim of transferring the money to your account soon. 830,000 citizens from needy populations will receive a double grant, so that a balance is struck between the desire to pay a grant to all citizens. ". Ministers Orit Farkash HaCohen and Michael Bitton White Brush abstained.

The weak will get more

In a briefing with the director general of the National Insurance Institute, Meir Spiegler, he said, "The National Insurance Institute is the one that will coordinate the implementation of the 'grant for every citizen' program." The amounts that children receive will go to those who usually receive the child allowance. Separately. Couples who run a joint account will receive the amount per couple, or family, in their account. It will be emphasized that soldiers are also entitled to this grant.

"During the period from last Thursday to last weekend we were able to collect another 1.167 million bank accounts that we did not have. The goal is that by the time the law is approved we will be with all bank accounts and ready to make the transfer immediately. "We will transfer money to them through the post office bank and they will be required to come to one of the branches with the necessary means of identification and will be able to receive the grant amount in cash."

According to Spiegler, so far the National Insurance Institute has located 80% of citizens' bank accounts. According to him, this is an unprecedented operation. Spiegler added that more than half a million people would be eligible for a double grant, due to their affiliation with one of the eligibility groups. Those whose income level exceeds NIS 650,000 per year, gross, will not be eligible for the grant. The children will receive the grant anyway. It should be emphasized that some of the details may change as part of the legislative process and are correct at the time of briefing.

The markets are indifferent

The approval of the plan did not cause a storm in the markets, when the Tel Aviv Stock Exchange closed the first day of trading this week with declines of more than 1% in the leading Tel Aviv indices.

More on this topic:

The model for distributing "corona grants" to citizens was established

The government has approved the corona grant program for citizens

Social Security will coordinate the payments of grants to citizens

Shares of Teva fell by 2.75%, following reports in the United States that the way to a compromise between the company and the US authorities in the price coordination issue may have been paved. "Taro", another pharmaceutical company that is being sued in the case, has reached a plea agreement in which it will pay about $ 420 million in order to avoid further proceedings against it. Pharmaceutical companies are accused of coordinating prices on 80 different products. It is estimated that Teva's compromise arrangement, if implemented, will be double that of Taro - if not more than that. In addition, Teva could be harmed by Trump's presidential order to lower drug prices as part of its plan to fight Corona.

While Teva shares fell, Delek Drilling shares jumped nearly 15% following the announcement of raising up to $ 2.5 billion abroad, led by investment bank JPMorgan. Delek Group rose 3.7% after reports that businessman Rami Levy Is considering acquiring Delek Israel together with businessman Avi Levy, and Rami Levy's share has risen by almost 2%, with a value of NIS 950-800 million.

At the same time, Bank Leumi's investment arm also expressed interest in Delek Israel. Owner Yitzhak Tshuva is interested in making the sale in order to motivate the capital raising of NIS 163 million, which he must complete by next Friday.

Source: israelhayom

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