MK Avigdor Lieberman calls on the government to prepare a NIS 140 billion economic recovery plan

Chairman of "Israel Beitenu" party MK Avigdor Lieberman calls on the government to prepare a NIS 140 billion economic recovery plan, compared with a NIS 80 billion framework presented this week by Prime Minister Benjamin Netanyahu and Finance Minister Moshe Kahlon.
Lieberman proposes raising the deficit target in the state budget, and using unused funds in 2020, in light of the introduction of the continuing budget, to fund the program.
The program will include: providing business loans while reducing bureaucracy, paying grants to small businesses and companies, and controlling the interest rates charged by banks.
Lieberman offers:
* Business and corporate loans equivalent to the last 4 months of 2019, according to the statement of accountant of each company and company.
* The repayment of loans will start from January 1, 2021. Businesses that fail to return to normal income levels in the said period, then the difference between the level of turnover at the end of 2019 and turnover in 2020 will become a grant. The amount of the grant will be determined by an affidavit by the company's accountant for a cash flow loss in 2020.
* The implementation will be done by the companies' banks with funding provided by the government.
According to Lieberman, such a decision will enable companies to continue to meet all obligations to employees, suppliers and institutions. This will allow normal economic conduct of the economy.
A one-time grant of NIS 18,000 to all self-employed small business owners who paid some tax during 2019.
* The Bank of Israel will closely monitor the interest rates charged by the banks on the same loans and on the mortgages.
Lieberman emphasized, "The plan presented by the government this week is cumbersome. Nearly 10,000 applications have been submitted for assistance from the relief funds, of which they have received several dozen.
Lieberman also criticized the government's bureaucracy as a condition for receiving assistance, saying that "if they go according to the banks' bureaucracy then no one will receive assistance. Therefore, it is sufficient to require an accountant's affidavit. The state should take risks otherwise the economy will collapse."
He believes that "in order to fund the program, the budget deficit must be dramatically increased in order for the economy to operate and use unused funds as a result of the ongoing budget leadership in 2020. Our proposal is to inject live money into business so that they continue to operate rather than pay unemployment benefits to the unemployed. So the money will die immediately. Therefore, providing business assistance will help them recover, and most of the money will go back to the state coffers, with the exception of funds from the business that their turnover will fall. "
"The banks where the companies and the self-employed manage their account will give the loans on state guarantee," he stressed. He expressed concern over the "property tax rebellion" that would collapse that would hurt local authorities, especially the weak. Lieberman added: "The state will have to set a framework of between NIS 130 billion and NIS 140 billion, excluding the equivalent of a reduction in circulation, which will become a grant, but the main part of the loans will be returned to the lender's bank and from there to the state. Any other solution will cause disputes and burden on welfare institutions, social security and all. The other institutions that serve the public.
"The advantage in this way, among other things, is that there is no need for discount on property taxes, water, electricity and no unemployment allowance. In addition, the proposed solution will avoid the hassle and waiting for loans granted today, which could cause the collapse of the self-employed and small and medium businesses. Economy smoothly to pre-crisis situation. "