Plan to Check Inflation in Israel Adopted by Ministerial Committee
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Plan to Check Inflation in Israel Adopted by Ministerial Committee

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Drastic steps designed to curb rising prices and a spiralling inflation have been approved by a special Cabinet Committee, it was announced here today. The committee includes all Ministers dealing with economic matters.

The plan, entrusted to a special team of economists for implementation, includes provisions for resumption of subsidy payments by the government to keep the prices of some consumer goods, chiefly fruits and vegetables, at a level available to most Israelis.

The second stage of the plan provides for drawing off surplus cash from the public through new taxes and import duties. The government will attempt to guarantee that all food reaching the consumer is sold at officially fixed prices, even re-introducing rationing, if necessary. Other proposals have been prepared and will be announced from time to time, the Cabinet Committee indicated.

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