Protest in Tel Aviv Monday
Photo: Ben Kelmer
Netanyahu: We may need gov't cartel
Photo: Ohad Zoigenberg
PM vows to lower housing costs
Netanyahu to strive for 'social solidarity', though he says economy 'better than in Europe in many ways'
Prime Minister Benjamin Netanyahu responded to massive protests throughout Israel Monday by vowing to lower housing prices. "We will lower prices for social solidarity," he told a graduation ceremony at the Hebrew University in Jerusalem.
"Our economic situation is in many ways better than in Europe. People make a living but at the end of the month nothing is left. Why don't they have anything left? Because things cost more here," he explained.
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"Where there is no competition prices go up," he said. "One of our aims is not only to improve the economy but also to lower prices."
Netanyahu is scheduled to give a press conference on Tuesday in which he will present the government's plan to battle rising housing costs.
"We will have to open up a government cartel," he warned. "It's important in order to give the people social solidarity, so they know they can make a living, that they have something to aspire to."
The prime minister spoke as hundreds of protesters blocked the road by his residence, and hundreds more protested in Beersheba, Tel Aviv, and Jerusalem.
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