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Levin reform effect: after the high-tech protest - comes the accountants' protest Israel today

2023-02-07T09:44:04.898Z


A group of accountants contacted the Prime Minister this morning and expressed their concern. A group of accountants contacted Prime Minister Binyamin Netanyahu this morning (Tuesday) regarding the fear of serious damage to the state of the Israeli economy as a result of the legislative process of the planned reform of the Israeli justice system. In their letter, 115 senior accountants and financial managers in the Israeli economy write that they "express our deep concern for harm to the


A group of accountants contacted Prime Minister Binyamin Netanyahu this morning (Tuesday) regarding the fear of serious damage to the state of the Israeli economy as a result of the legislative process of the planned reform of the Israeli justice system.

In their letter, 115 senior accountants and financial managers in the Israeli economy write that they "express our deep concern for harm to the Israeli economy in view of planned moves by the government led by you to reform the Israeli justice system."

According to them: "The Israeli economy has been based for many years on investments by foreign entities that see the Israeli economy as an attractive, growing, innovative, technological and advanced economy. Among other things, these are foreign investors who see the Israeli high-tech industry as a field unique to Israel, and they make their investments from the point of view of A stable economy in a country with a democratic regime.

The accountants join the wave of protests.

The high-text protest,

The planned administrative reform, and the harm that will result from it in the separation of powers between the judicial authority, the legislative authority and the executive authority, will turn the existing confessions into a state of economic instability - a situation that will cause concerns on the part of those investors, to withdraw their investments and prevent future investment by them.

This phenomenon does not only characterize the investments in the Israeli high-tech industry, but investments in many and varied fields, including traditional industry, real estate, and more. As those entrusted with examining the internal control system in various organizations, we are aware of the importance of the separation of powers and duties. This is easy in the State of Israel as a democratic state."

The accountants further point out that: "Already these days, we, as accountants and financial managers representing companies in the economy, are hearing about the intention of venture capital funds to withdraw funds from Israel, requests from companies abroad with subsidiaries that require the companies to convert funds into dollars and transfer them back abroad .

A sign at a demonstration against the legal reform in Tel Aviv, photo: Koko

"Some of us are representatives of small and medium-sized businesses, which are influenced by the large companies, and constitute another link in the "food chain". As such, we witness that these businesses are about to be harmed by the lack of demand from the large customers, which may lead to a process of reduction and contraction of the Israeli economy. Furthermore, the possible damage to the rating Israel's credit, which will affect the ability of various companies to raise funds, may cause a credit crunch, a further increase in prices, and a worsening of the situation of medium and small businesses, which are the main growth engine of the economy. We, as accountants representing all types of businesses in the Israeli economy, turn to you with the demand to stop A one-sided process of a governmental coup, to adhere to negotiations and a horizontal agreement to implement the aforementioned changes in order to restore the stability of the Israeli economy."

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Source: israelhayom

All news articles on 2023-02-07

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