“Too little – too late” would most accurately sum up the overall reaction to the master plan proposed by Finance Minister Roni Bar-On intended to save Israel’s economy.

The NIS 21.7 billion plan experts and analysts say is not realistic, does not address the needs of the Israeli economy today, and it comes too late to save many jobs that are already lost and the downward spiral has already begun.

Experts explain the plan includes increasing government debt, as well as additional tax benefits to the wealthier sectors, at the expense of the middle class working and lower income sectors. Treasury official Ron Blanikov explains confidently that the implementation of the plan will be spread over 2.5 years and add 10,000 jobs.

Two components of the plan, major ones, is the improvement and expansion of the roadway system and moving ahead with water desalination plans to address Israel’s critical water shortage.

The plan also calls for reductions in value added tax restrictions for moderate and smaller businesses.

In the meantime, while the national government speaks of infusing new job opportunities into the economy, it is simultaneously firing 4,000 school security guards on January 1, 2009.

(Yechiel Spira – YWN Israel)