Yaron Zelecha Unveils Economic Platform and Sets Conditions for Finance Post
Economic Party leader Yaron Zelecha unveiled an election platform centered on sweeping tax cuts, deregulation, and breaking up monopolies, conditioning any coalition entry on becoming Minister of Finance.
Professor Yaron Zelecha, leader of the Economic Party, presented a comprehensive economic platform ahead of the upcoming elections, focusing on tax cuts, enhancing market competition, and curbing the power of monopolies and tycoons. Alongside these economic proposals, Zelecha made it clear that any future participation in a government coalition would be strictly conditioned on specific political demands, primarily securing the position of Minister of Finance and enforcing mandatory conscription for all citizens.
Economic Reforms and Tax Cuts
At the core of Zelecha's economic agenda is a progressive reduction of the tax burden. He proposes the immediate abolition of the blocked profits tax and the surtax, lowering Value Added Tax (VAT) by one percentage point annually until it reaches 12%, and reducing income tax brackets each year to cap the maximum tax rate at 40%. Furthermore, the platform aims to open the domestic market to competition through the sweeping elimination of import tariffs and quotas, banning exclusivity agreements between foreign manufacturers and local importers, and restricting the leverage of dominant import corporations.
In the agricultural sector, the plan entails shutting down production boards for dairy, eggs, and honey. Zelecha also advocates transferring the Competition Authority under the direct jurisdiction of the Ministry of Finance and reinstating strict legislative prohibitions against excessive pricing by monopolies, a measure necessitated after previous legal provisions were weakened by a Supreme Court ruling in April 2023.
Infrastructure and Political Conditions
Zelecha proposed restructuring infrastructure financing models by advancing major national projects through private concessionaires via BOT and PPP frameworks. Among the initiatives highlighted are the construction of the metropolitan metro system, high-speed rail lines to Kiryat Shmona and Eilat, the establishment of two new hospitals in the North and the South, and the operation of a civilian airport at Hatzor.
Setting stringent political boundaries, Zelecha declared he would only join a Zionist government committed to universal conscription and willing to hand him the finance portfolio.
"We will not settle for a coalition of evasion led by Netanyahu, nor a bloc with Arab parties," Zelecha stated, concluding with a warning to corporate elites that his first day in office would mark a reckoning for monopolies and banks.
Banking and Budgetary Overhaul
To tackle financial centralization, Zelecha proposed establishing a new bank through public-private partnerships. On the budgetary front, the platform demands the complete elimination of coalition funds, freezing budgetary pensions for existing state employees, and sharp cuts to allowances for draft evaders.
