"For the past three years we've heard that everything is wonderful, yet suddenly we find that there's a NIS 30 billion (about $7.5 billion) gap in the budget. This means that things weren't as good as Netanyahu and Steinitz presented them," a Likud top minister said on Thursday. "If we take today's unemployment rate which stands at 8% and add the ultra orthodox, which nobody takes into account, then we won't be like Spain; we're already Spain."


Likud ministers warns 'budget cuts, tax increase will push voters away.' Failure to pass budget could spell early elections-


In light of the expected budget cuts and economic measures announced by the government, senior Likud officials criticized the Finance Ministry and Prime Minister Benjamin Netanyahu's new economic measures, expressing concern that the party may suffer serious electoral damage.

"For the past three years we've heard that everything is wonderful, yet suddenly we find that there's a NIS 30 billion (about $7.5 billion) gap in the budget. This means that things weren't as good as Netanyahu and Steinitz presented them," a top minister said on Thursday.


"If we take today's unemployment rate which stands at 8% and add the ultra orthodox, which nobody takes into account, then we won't be like Spain; we're already Spain. It's unclear how things which were seemingly good are now bad and we're forced to make budget cuts, raise taxes and take a beating in the public eye," said the minister.

Top coalition members estimated that in a few weeks it will be clear whether the elections will be scheduled before the expected end of term. The Prime Minister's Office stated that Netanyahu is scheduled to meet with coalition leaders in order to determine whether the 2013 budget can be approved.


A senior official noted that "if Netanyahu sees that coalition partners won't approve the economic measures and severe budget cuts this will likely lead to elections in the beginning of the year."






http://www.ynetnews.com/articles/0,7340,L-4263926,00.html




Photos: PM Netanyahu and Finance Minister Steinitz