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Cabinet Starts Early Talks on Next Year’s Budget; Up by 10%

The Cabinet today began discussions of Israel’s 1967-68 budget, which reportedly will reach 5,000,000,000 pounds ($1,670,000,000), nearly 10 percent higher than the current budget. The additional income for the expenditures of the next fiscal year, which starts April 1, is expected to come from increased taxation.

Finance Minister Pinhas Sapir had requested that the Cabinet begin consideration of the new budget several months earlier than in previous years, because of the changes to be brought about by the austerity program now under discussion.

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