Welfare & Social Services Minister (Yesh Atid) Yair Cohen warns of imminent widespread cuts of Bituach Leumi (National Insurance Institute) and other government subsidies to families in need.

Cohen is quoted in the daily Maariv explaining he plans to meet with treasury officials to get a first hand report of what cuts are planned, stating “I will be adamant in my objections to any such cuts. There is no place for cutting here.” Cohen adds that the funds received by his ministry are to assist juveniles at risk, the poor and elderly and not only are cuts unthinkable, his agency requires additional funding.

Realizing the treasury is under the control of Yesh Atid leader Minister Yair Lapid, Cohen adds “Even if this means waging a war among family and friends I will not agree to any such cuts. There are many areas in the budget that can be cut, but not here. I will lead a tenacious opposition to any and all cuts,” he explained.

Finance Minister Yair Lapid and Government of the Bank of Israel Prof. Stanley Fischer met on erev Pesach 5773, and Lapid emerged with deep concerns over the nation’s economic state. He spoke with America’s Treasury Secretary Jacob Lew, explaining his plan to reveal his economic rehabilitation plan to the public after he completes studying the data and formulating the plan.

Treasury officials warn that eliminating a planned 4.5 billion NIS cut in military spending will compel “painful and deep cuts in budgets in the areas of education, health and welfare” and there was no way to avoid this.

Maariv report that it does appear Prime Minister Binyamin Netanyahu will ultimately permit a 2 billion NIS cut in defense spending, which is far less than the original sum discussed.

(YWN – Israel Desk, Jerusalem)