The Knesset approved extra-budgetary allocation for the economy and education system totalled NIS 7.2 billion

The Knesset approved the extra-budgetary allocation for preparing the education system to deal with the corona crisis and tax benefits to accelerate economic activity in the economy. The Knesset plenum this evening approved in the second and third readings the plan, the total scope of which is estimated at NIS 7.2 billion, some in expenses and some in the waiver of tax revenues.
The program includes NIS 4.2 billion for the Ministry of Education in collaboration with the Minister of Education, Yoav Galant, and for the benefit of the implementation of the "Learning in Security" program to operate the education system while dealing with the corona virus and high morbidity. This is the fourth corona box to join boxes worth NIS 135 billion (for 2020) approved since the beginning of the corona crisis. The current box is intended specifically for the education system to prepare for studies in the shadow of the corona.
In addition, as a step to encourage investment in the economy and accelerate growth, Minister of Finance Israel Katz decided to promote accelerated depreciation amounting to NIS 2 billion. , Construction and operation of a hotel, will be entitled to receive depreciation at a rate twice the rate of depreciation to which they were entitled, provided that the total depreciation does not exceed its original price and in accordance with the conditions set out in the Temporary Order.
An additional NIS 1 billion will be allocated to the program to supplement the negative income tax grant to help low-income earners, and the grant to small businesses affected by 25% or more and not 40%, in the amount of up to NIS 6,000.