The Israel Government will float a special loan and will levy a number of new taxes to raise 55,000,000 pounds to meet defense expenditures.
The loan, for 40,000,000 pounds, was recommended by the Knesset Finance Committee. An additional 15,000,000 pounds will be raised through taxes on postal, telephone and other communications services as well as transport services.
The government does not plan to ration oil and gasoline, a spokesman said, but will restrict the use of electric power and gasoline for automobiles. All heating by electricity will be banned and cooking will be confined to certain hours. Motorists will be restricted to travelling within their neighborhood zones. All these restrictions are planned to cut oil imports.
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