The Knesset today concluded 15 hours of debate on the Finance Ministry’s proposed $3.78 billion budget for the fiscal year beginning April 1. The draft budget is expected to be referred to the Knesset’s Finance Committee next Monday after Finance Minister Pinhas Sapir ends the debate on the first reading of the proposal. Passage by the parliament is assured, although minor amendments may be attached in committee. Deputy Finance Minister Zvi Dinstein said today that the Treasury would be unable to make income tax concessions to working mothers employing housemaids while they are away from home. On a point of crucial importance to the stability of Israel’s economy, the Treasury has indicated that it may be able to avoid imposing higher taxes in the coming fiscal year if wage demands are kept down.
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