'U.S. aid to be cut in 3-4 years’

TEL AVIV - In three or four years, Israel will achieve economic independence and American financial aid for non-military purposes would end completely, Finance Minister Benjamin Netanyahu told newspaper Yedioth Ahronoth. “By the end of 2006, or in two years at the latest, there will no longer be any poor elderly Israelis,” he declared in a particularly optimistic Independence Day interview. Other pledges made by Netanyahu include a reduction in unemployment figures, a boost in tourism, and the initiation of mega-projects, namely what Bibi refers to as a “Bible Belt,” aimed at Christian tourists, on the shores of the Sea of Galilee and a casino in the southern town of Eilat. However, despite what Netanyahu - and many others in Israel and abroad - views as a highly successful term at the Treasury, the finance minister sets his sights even higher. “Do I want to again become a prime minister? Yes,” he says. “Do I think I’m suitable to be a prime minister? Yes.” However, Netanyahu’s drive to the top is likely to face at least one major obstacle, in the person of current Prime Minister Ariel Sharon, who in the past has declared his intention to run for another term. When asked whether Sharon is too old to go for another term, Bibi resorts to a diplomatic answer. “It’s a question every person must answer on his own…while taking into account his suitability and capabilities,” he said. Massive tax reduction planned Despite the recent apparent economic slowdown, Netanyahu looks to the future with hope and says he is working on what he calls a significant but balanced tax reduction. The move would see taxes lowered to the tune of billions of shekels, he says, but refuses to provided further details. “My wish is to lower almost all taxes in Israel,” he says. “Most of them are too high.” Netanyahu says the Treasury and the Bank of Israel see eye to eye on the matter and notes he already discussed the issue with new Bank Governor Stanley Fischer. “The governor certainly backs the move,” he says. “I presented some of the planned measures to him and saw that he agrees with the. We must push growth forward and reduce unemployment.” Indeed, Netanyahu also remembers to repeat his ambitious long-term objective, which he has already presented before. “Israel will be one of the world’s 10 richest countries and overtake the average standard of living in Western Europe,” he says.

'U.S. aid to be cut in 3-4 years’

Finance Minister Benjamin Netanyahu says Israel on way to economic independence