The Treasury's Flick-Flock:
After the announcement that the price of fuel will increase next month by 70 shekels per liter because there is no budget source to extend the tax reduction, the budget department managed to find a budget of about NIS 100 million today (Monday).
As a result, the reduction of the excise tax on fuel will be extended by one more month and partially, and the price of fuel will still increase from December 1, but at a more moderate rate of about 40 cents per liter.
The new marked price will be NIS 6.86 per liter instead of NIS 6.46 per liter today.
In the morning, people around outgoing Finance Minister Lieberman said that the tax benefit would not be extended because "there is no budgetary source and legal approval to continue it."
However, a few hours later the budgetary source was found.
Finance Minister Lieberman.
Those around him said that there would be no funding for the extension of the benefit, photo: Yossi Zeliger
The state has been subsidizing the price of fuel since April by reducing the tax on fuel.
The Ministry of Finance's order reducing the excise duty ended on November 15 and was then extended by outgoing Finance Minister Lieberman until the end of the month.
The budgetary cost of extending the excise tax reduction per year is estimated at more than one billion shekels per year.
We will also note that the price of oil in the world dropped sharply in the last month, so that if it weren't for the jump in the tax, the price of fuel at the stations should have dropped by 30 cents per liter.
Benjamin Netanyahu at the swearing in of the 25th Knesset.
Referred to freezing the generators of inflation, photo: Oren Ben Hakon
Prime Minister-designate Binyamin Netanyahu pledged to "freeze the generators of inflation" - the electricity, water, property tax and fuel rates.
As for the freezing of the increase in fuel prices, it is a relatively simple procedure that does not require legislation, but rather the signature of the Minister of Finance and the approval of the Finance Committee and, of course, the finding of funding sources.
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