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Higher Israel Budget for New Year Submitted to Cabinet

The Treasury’s draft budget for 1964-65 was presented to the Cabinet today and, while no details have been divulged, it was understood that it would total between 3,300,000,000 and 3,400,000,000 pounds ($1,100,000,000-$1,130,000,000) or about 500,000,000 pounds ($167,000,000) more than the current budget.

The major increase is said to be in the budget for the Ministry of Education and no tax increases except for the new capital gains levy and several luxury taxes are contemplated.