Photo Credit: Kobi Gideon
The ministerial committee on fighting the cost of living. Feb. 29, 2024

Prime Minister Benjamin Netanyahu convened a meeting on Thursday of the ministerial committee on fighting the cost of living, which he chairs. The meeting was held at the Kirya military HQ in Tel Aviv.

The Economy, Finance and Health ministers presented the main points of the ‘What is good for Europe is good for Israel’ draft legislation on imports. The Prime Minister directed that the draft legislation be circulated for public comments within a week and that it be tabled in the Knesset during the current session.


 Prime Minister Netanyahu at the start of the discussion [translated from Hebrew]:

 ”We have major news today regarding the fight against the cost of living: What is good for Europe – is good for Israel.

 I would like to thank my colleagues – the ministers of Health, Economy, Finance, Energy and Agriculture, as well as the personnel at the Prime Minister’s Office, and you, Professor Simhon, for your success in finally reaching agreement.

 We will submit the draft law this week for quick legislation in the Knesset. This will significantly lower the prices of cosmetics and food in the State of Israel. This is a great blessing.”

Finance Minister Bezalel Smotrich released a statement [translated]:

“The import reform will open the market and lower prices.

The war stopped the advancement of the import reform and in good time it was renewed and passed by the committee of ministers. We intend to enact the reform in this session.

Cutting bureaucracy, cutting regulations, removing import restrictions and create a free import superhighway.

There is no reason why what is good for Europe should not be brought to Israel in a fast track, bypassing bureaucracy and bypassing regulation.

Today we took an important step in the right direction.

I thank Minister Barkat, Minister Bosso, Minister Cohen and Minister Dichter and the Prime Minister for their cooperation and, of course, the Director General of the Ministry of Finance Shlomi Heisler and the professionals in the Ministry of Finance for promoting the reform.”


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