5-Step Plan to Rehabilitate and Grow the Economy

A flourishing economy results from resolute policy.

Israel is capable of achieving much greater growth and success.

To heal the economy and renew growth, particularly after the corona crisis, we must determinedly execute significant reforms that have been needed for years.

New Hope will make the economy soar and return Israel to the path of growth.

Three principles underlie the economic plan:

  1. Immediate solutions
  2. Rehabilitation
  3. Reform

The following five-point plan is the basis of New Hope’s full economic program.

1. Hope for Growth

The Economic plan of New Hope—Hope for the Economy—will remove limitations that constrain economic growth and will spur an innovative and free economy that attracts brainpower and investments from around the world.

 

  • We will foster a digital coup and move advanced information technologies into government services to achieve paperless and “waitingline-less” government (as in Estonia)
  • We will turn Israel into a center for attracting brainpower and talent from around the world, setting a goal of 250,000 olim in the coming five years.
  • We will advance the tech areas and establish Israel as the global capital of technological innovation.
  • In this manner, we will bring about growth of 23% in five years.

2. Hope for Infrastructure

Israel currently ranks in the bottom third among Western nations in infrastructure investment.

 

New Hope’s plan will harness private enterprise to drive infrastructure development as an engine for growth and a source of hundreds of thousands of jobs.

 

  • We will expand infrastructure investment by 35% per year through collaboration with the private sector.
  • We will advance the “Smart City” project.
  • We will incentivize the creation of infrastructure funds in cooperation with Israeli and international institutional entities.
  • We will invest in our national transportation infrastructure and connect the railroad network to the major Israeli cities within five years.
  • We will establish and/or upgrade communications and cyber infrastructures, which will reduce gaps between the Center and the Periphery and provide access to every Israeli citizen to the fastest internet in the world.

3. Hope for Employment

There are nearly one million unemployed in Israel today. The government has no plan – and the unemployed have no future.

 

New Hope will reduce the unemployment that has reached record levels due to corona and encourage going back to work through grants and benefits to employers who return employees and to the employees themselves.

 

  • We will create broad professional training programs, relevant to our sophisticated labor market, that will be implemented through the private sector with government incentives.
  • We will grant vouchers to children and the elderly to study English, programming, robotics, and finance, and, within ten years, we will double employment in advanced industries.
  • We will close the gap in productivity compared to other Western countries, and, within four years, cause the average monthly salary to increase to NIS 13,500.

4. Hope for the Independent and Small Businessperson

Small businesses are the best growth engine for an economy. New Hope will transform Israel into a country the fosters business, not one that strangulates it.

 

  • We will protect the self-employed and grant them a social safety net for a rainy day.
  • We will open the Israeli market to competition by lowering import barriers and creating export incentives, and by adopting international standards, with the goal of creating 20% additional new businesses per year.
  • We will shorten purchasing processes and promote “fast tracks” in strategic areas.
  • We will establish a permanent staff in the Prime Minister’s Office to fight bureaucracy by cutting red tape, easing regulation, and removing barriers to starting new businesses.
  • Similarly, we will promote greater competition, which will help reduce the cost of living.

5. Hope for the Periphery

Netanyahu’s government speaks much about the Periphery but does very little. In fact, the gap between the Center and the Periphery is just getting wider.

 

New Hope’s economic program will offer equal opportunity to all citizens and jumpstart the geographic Periphery.

 

  • We will transform Israel’s Periphery into a magnet for entrepreneurs and stronger populations through grants, tax benefits, quality education and high quality of life.
  • We will invest in the Periphery by strengthening the metropolitan areas, and making them accessible to education, transportation, and employment.
  • We will establish special-purpose funds to invest in the Periphery and its residents, and we will equalize its employment percentage with that of the Center.
  • We will ensure that quality jobs migrate to the geographic Periphery.
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