Israel’s Smotrich Plans to Raise Taxes on Banks, Cut Prices

Israeli Finance Minister Bezalel Smotrich says he will raise taxes on banks and cut the cost of living.

• Budget plan aims to cut food, banking, clothing costs
• Taxes on banks will be “high”
• Plans to open the banking system to more competition
• Smotrich speaks at press conference ahead of presenting his budget plan to the cabinet

To contact the reporter on this story:
Galit Altstein in Tel Aviv at galtstein@bloomberg.net

To contact the editor responsible for this story:
Alisa Odenheimer at aodenheimer@bloomberg.net

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