The Israel Parliament last night passed the government’s 45,000,000-pound compulsory “loan” on real property, companion legislation of last year’s 10 percent loan on bank accounts.
During a ten-hour debate spread over two days, the Knesset rejected many amendments offered by the Mapam and the Herut and voted acceptance of the 60-odd provisions of t###e bill. The opposition parties voted against the law. Property own are will be given the choice of “lending” the government–for 15 years at two and one-half percent interest–sums up to ten percent of the value of the property or of paying half the loan as a capital levy.
Power the news that matters to you. Before 2025 ends, help JTA's independent, award-winning newsroom document Jewish history in real-time.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
