Israeli manufacturers asked Government for NIS 1b to face crisis

MAI president asked governmen to help local companies cope with the global economic crisis
 
Manufacturers Association of Israel (MAI) president Shraga Brosh appeared last week before the Knesset Finance Committee to ask for NIS 1 billion, over five years, to help local companies cope with the global economic crisis.
 
In his address before the committee Brosh noted that he could not tell the members
when the Israeli economy is liable to slip into a severe economic slowdown, however he argued that according to his understanding and information the government is considering economic measures that will undoubtedly worsen the business environment and negatively affect the competitiveness of the Israeli industry.
 
Brosh provided the committee members with a list of some cost items that are due to be increased over the next year:
·           The Water Commission plans to increase water rates for industry by about 150%,
·           Local property taxes are due to be increased next year by 4.6%,
·            Electricity rates will rise by 4% - 5%.