30% Col Hike for Israeli Wage-earners
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30% Col Hike for Israeli Wage-earners

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Israeli wage-earners will receive a cost of living allowance next Jan. amounting to 30 percent of their base pay, according to figures released by the Central Bureau of Statistics today. It could mean an average IL 300 raise in take-home pay for most wage-earners. Cost of living allowances are tax free.

The figures released today showed a two percent consumer price rise for the month of Sept. The Jan.-Sept. figures show a 26.5 percent price increase and the increase for the 12-month period since the Yom Kippur War amounts to nearly 38 percent. The Treasury promised two months ago that the COL allowance would be paid in full in Jan., although some circles believe the government will try to persuade Histadrut to forego part of it as an anti-inflation measure. Histadrut is expected to reject any such suggestion.

Meanwhile, Treasury officials flatly denied a report in the financial newspaper, “Mabat.” that government was considering a 50 percent devaluation of the Israeli Pound.

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