Israeli development projects will face serious budgetary cuts if the compulsory 40, 000, 000-pound immigration loan, now suspended, is finally cancelled. This was the warning voiced last night before the Economic Ministers Committee by Finance Minister Levi Eshkol.
Salary deductions for the compulsory loan were to have gone into effect this month. However, collections for the loan were suspended, following strong objections from the public as well as from members of Parliament, including representatives of political parties participating in Israel’s coalition government. The Cabinet will review the entire problem at its next meeting, Sunday.
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