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Israel's proposed 2016 budget fails to deliver on promised social reforms

Israeli Finance Minister Moshe Kahlon promised reforms in banking, cost of living, housing prices and more, but the 2016 budget that he presented to the government carries no extraordinary social vision.
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During the last election campaign, Finance Minister Moshe Kahlon spoke often about the courage, determination and leadership necessary to correct structural economic injustice in Israel, now dominated by monopolies and cartels. He sold himself as a different breed of politician, not indebted to anyone and capable of dealing with this head-on. He planned on becoming finance minister from day one of his campaign.

The public put its trust in this Don Quixote-like figure, who established a socio-economic party called Kulanu that won him 10 seats. Because of that, he was appointed finance minister. The chair of Kulanu also showed particular adeptness in his handling of the coalition negotiations. He walked away with the “toolbox” he demanded, namely control over the governmental organs most relevant to his plans, which would have enabled him to institute audacious reforms to housing, banking and the cost of living.

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