A ministerial panel chaired by Prime Minister Benjamin Netanyahu on Tuesday approved a bill to reduce the cost of living for Israelis.
The plan, proposed by Economy Minister Nir Barkat and Finance Minister Bezalel Smotrich, will open the Israeli market to products sold in Europe.
Netanyahu directed the ‘What is Good for Europe is Good for Israel’ law to be submitted within a month.
“The committee discussed the significance of accepting the European standard and the practical implications of the prime minister’s directive,” Netanyahu’s office said.
“What is good in Europe is good in Israel,” the prime minister said following the meeting.
“By the opening of the Knesset session on 15 October, we will submit a memorandum on draft legislation to open the Israeli market to all European products.
“There will be exceptions but everything other than the exceptions will be permitted,” Netanyahu said.
“This is the exact opposite of what we have now in which everything is prohibited except that which is permitted. From now on everything will be permitted except that which is prohibited.”
Netanyahu hailed the bill as “a major change … a revolution.”
Barkat likewise praised the proposed law, calling it “the greatest news in the area of the cost of living.”
The minister noted that the legislation will allow the opening of the Israeli market to tens of thousands of inexpensive goods from Europe which are currently prohibited for import to the Jewish State.
