The Israel Government today served formal notice on Parliament that it will introduce next Monday its budget for the 1953-54 fiscal year. The new budget of 216,330,000 pounds is about 20 percent greater than last year’s. After the formal presentation of the budget by Finance Minister Levi Eshkol Monday, the Knesset will hold a ten-hour debate on it.
The largest single item in the budget, an allocation of 42,000,000 pounds for the Defense Ministry, reveals a three million pound reduction from last year’s expenditure of 45,000,000 pounds. The education budget is up from 13,706,000 to 17,130,000 pounds, while the allocation for the police also has been increased, from 10,251,000 to 13,990,000 pounds. Allocations for health services have been increased from 9,174,000 pounds last year to 12,500,000 pounds next year.
The government anticipates income tax revenues of 65,500,000 pounds compared with 47,000,000 pounds last year. Customs duties are expected to yield 23,000,000 as against the 19,000,000 brought in in 1952-53. Taxes on fuel are expected to bring in 20,000,000 pounds, almost twice as much as last year, while luxury taxes will total 21,000,000 pounds.
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