Economic Arrangements Bill passes first reading

Avigdor Liberman

The coalition parties reached a compromise on the establishment of a Regulation Authority.

In a victory for Minister of Finance Avigdor Liberman, the Knesset has passed the Economic Arrangements Bill by 59 votes to 54. After hours of talks, the coalition parties reached agreement on the setting up of a Regulation Authority. Under the proposal by MK Eitan Ginzburg (Blue & White), the Regulation Authority will be established, but it will be an advisory body only.

Coalition parties Meretz and Labor had opposed the idea of such an authority, and in any case felt that such a far-reaching reform should be the subject of separate legislation and not passed as part of the Economic Arrangements Bill that accompanies the state budget.

Under the proposed compromise, ministries will be obliged to consult the new authority on regulatory matters.

Coalition chairperson Idit Silman (Yamina) said: "Weeks of long days and nights have ended - we have reached agreement on regulation as well, thanks to my colleague Abir Kara and the heads of the coalition parties and their teams. There is a budget that is good and right for the citizens of the State of Israel."

Published by Globes, Israel business news - en.globes.co.il - on September 2, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Avigdor Liberman
Avigdor Liberman
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