Israel Budget Kingpin Opposes Flug, Lapid Deficit Plans

The head of the Israeli parliament’s finance committee said both Bank of Israel Governor Karnit Flug and Finance Minister Yair Lapid have the wrong answer on how to tackle next year’s outsize budget gap.

Nissan Slomiansky, whose cooperation is key in pushing next year’s budget proposal through parliament, says he opposes raising the deficit limit, said to be Lapid’s preferred solution, and increasing taxes, part of Flug’s suggested fix, to meet next year’s gap target. Slomiansky doesn’t rule out spending cuts.