Prime Minister Binyamin Netanyahu told the Cabinet meeting Sunday the minimum wage for approximately 700,000 Israel will rise by 15 percent to $1275 a month.
“This morning, I met with Histadrut [labor federation] Chairman Avi Nissenkorn and Manufacturers Association of Israel President Tzvi Oren,” the Prime Minister said.
“I informed them that I have instructed the Finance Ministry to enable the Cabinet to raise the minimum wage to NIS 5,000. This is in continuation of our raising the minimum wage from NIS 3,800 to NIS 4,300, which we did in 2011, and now we are raising it from NIS 4,300 a month to NIS 5,000 a month,” he added.
Netanyahu issued the order two weeks after he fired Yesh Atid leader and coalition nemesis Yair Lapid as Finance Minister.
Raising the wage by 15 percent all at once will have an inflationary effect, but no one will notice it so quickly.
Aren’t elections a great way for getting things done?
Actually it is a terrible way but it seems to be the only way that works.