Economy Minister Naftali Bennett: The law is neither brave nor strict enough.
"The time has come for the Defense Ministry to lie on the stretcher of the socioeconomic burden with the rest of the Israeli public," Minister of the Economy Naftali Bennett told the Knesset Finance Committee today during its discussion on the concentration in the economy law.
Bennett added, "The present budget is a tourniquet on big current expenditures, because we had only 45 days to prepare a budget. But structural problems must be dealt with, and today's debate is just the beginning. Concentration is a serious problem, and the situation in which one family's pyramid can control a company with only a 3% stake in it is immoral. The concentration in the economy law aims to put an end to this.
"The law is neither brave nor strict enough. I call for further restricting the pyramid structure than this law proposes, and shortening the time for separating financial and non-financial holdings. The objective is substantive, and the public should understand that we're not only making cuts, but also dealing with fundamental problems which bedevil the Israeli economy."
Published by Globes [online], Israel business news - www.globes-online.com - on May 12, 2013
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