Israel Government Body Approves Compulsory Loan to Government
Menu JTA Search

Israel Government Body Approves Compulsory Loan to Government

Download PDF for this date

A proposal to levy a compulsory property loan of 15,000,000 to 20,000,000 pounds to cover a growing deficit in Israel’s budget was approved today by a majority of the Government Coordination Committee.

The compulsory loan, as proposed by Finance Minister Levi’ Eshkol, would be in the form of advance payment of property taxes due in the next fiscal year. The compulsory advance payment would be repaid in the form of deductions from taxes spread over several years.

While the Coordination Committee is an unofficial body, approval in that committee was considered as virtually assuring passage in the Knesset, since the committee’s majority decisions bind all members of the coalition in the Knesset. A majority vote for the measure is thus assured when it comes up for Knesset action.

Founding Funders

The digitization of the JTA Archive would not have been possible without the generous support of the following donors:
  • The Gottesman Fund
  • Righteous Persons Foundation
  • Charles H. Revson Foundation
  • Elisa Spungen Bildner and Robert Bildner, in honor of Norma Spungen
  • George S. Blumenthal
  • Grace and Scott Offen Charitable Fund