Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
In a victory for Prime Minister Benjamin Netanyahu, the Israeli Cabinet has approved steps to lower living costs in response to mass street protests this summer.
A committee appointed by Netanyahu recommended a multibillion plan that would boost free education for young children, give tax breaks to parents, increase affordable housing and cut military spending.
Israel's powerful defense establishment, as well as ultra-Orthodox parties inside the governing coalition, had opposed the program, fearing their pet projects would be in danger.
But the Cabinet on Sunday voted in favor 21-8. Last week, Netanyahu was unable to muster a simple majority when he tried to bring it to a vote.
Protest leaders say the measures are not enough.