Bennett unveils plan to lower Israel’s cost of living

Former Prime Minister Naftali Bennett has unveiled a plan to tackle Israel's high cost of living, a persistent issue that places the country among the most expensive in the developed world. The Yashar Party's proposal, "A New Agreement on the Cost of Living," focuses on dismantling monopolies and import restrictions to drive down prices.

Bennett's plan declares an "all-out war on monopolies and centers of economic concentration responsible for high prices." Statistics show Israel ranks fifth among OECD countries for food product costs, with prices over 33% higher than the OECD average. The Yashar Party estimates that reducing food prices to the OECD average could save Israeli families approximately NIS 8,000 annually.

Specific measures include requiring monopolies to divest brands and break up control throughout the supply chain. The plan also targets regional monopolies, proposing that companies like Shufersal sell some stores in their areas and face restrictions on opening new branches. Additionally, it calls for direct grants and support programs for farmers to improve efficiency and competitiveness before opening the market to further competition.

The proposal also seeks to introduce competition into the kosher-certification market, allowing consumers more choice without altering the Chief Rabbinate's certification process. Bennett stated that Israeli farmers would be supported to align with European conditions before the market opens to competition, asserting that "In this competition, Israeli agriculture will win."

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In the war against the cost of living, the farmers will be on our side. We will bring Israeli farmers' conditions in line with those of European farmers, and only afterward will we open the market to competition. In this competition, Israeli agriculture will win.