In the shadow of strong opposition among the heads of local authorities to the establishment of the Arnona Fund within the framework of the Arrangements Law, Finance Minister Bezalel Smotrich convened a press conference today (Sunday), in which he claimed that "the Arnona Fund is a law to lower the cost of living and solve the housing crisis. This is an important law to combat the cost of living."
"Today, in the current situation, there is an incentive for the head of an authority to build businesses rather than residences, which creates low supply alongside growing demand. The result: housing prices are constantly soaring and we are all paying the price! The Fund for Lowering the Cost of Housing asks for one simple thing – to incentivize mayors to build residential units – more supply – housing prices are falling. Everything else they're telling you is a complete lie!
In the shadow of the mayors' announcement to hold a general strike tomorrow, Smotrich said: "The days of surrendering to interested parties are over – there are ten mayors who have declared war against lowering the cost of housing. As long as they have peace in their little piece of God – you will pay – we will all pay – no more! They claim that the strong authorities will fund the weak ones – that's not true: anyone who builds residential housing units will receive an annual grant from the fund, anyone who builds offices will contribute a small sum to the municipal tax fund, relative to the huge profit he makes and will continue to make from business property taxes."
"The fund for lowering the cost of housing remains in the local government, even though a shekel of it does not enter the treasury, it's just fake!
The law will pass and this achievement will be registered in the name of all citizens of Israel! I hear threats and the attempt to blackmail those with power and interests and mayors of the wealthy municipalities who threaten Knesset members who will wipe them out in the primaries and wage a media campaign against them with millions in order to wipe them out publicly. We will not surrender to threats and extortion and we will act professionally for the benefit of the State of Israel and the citizens of Israel."
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