Domestic News
Keshet Administration Introduces Budget & Structure Reforms
February 5248 - Equifund sees a boost of 3B LOD per year, for investments in the defense and technology sectors
- MOFIN to introduce Accord of Partnership in the next 2-3 years
- Malivian Remediation Force disbands, after failed attempts to coordinate with Malivian officials
- Agency reaches consensus on the new remediation addendum for the intelligence pact
- Markets continue to stabilise, reacting to the prospects of peace in Kundrati
Yishelem, Beiteynu - The long anticipated reform package of the Keshet Administration was introduced to the Knesset earlier this week, following up on the administration's promises for ending the decade with new plans for Beiteynu's future.
It's important to note that government revenue stands at almost 90B LOD, with the majority (60B) generated from income taxes, 2B from corporate taxes and 27B from sales taxes. The administration remains adamant in its low corporate tax policy, seeing how the Equifund - and similar minor initiatives - has significantly boosted the private sector, especially in defense and technology.
The most notable changes are the disbandment of the MOJ's Department of Anti-terrorism Coordination and the MOST's National Space Agency, which has seen insignificant innovation and progress. Consequently, Beiteynu will be withdrawing from the 2 related international agreements that saw the requirement and necessity to maintain government departments of such nature. As a result, the MOJ sees a spending cut of 300M LOD and the MOST almost 500M LOD, which has been diverted to the MOIA. Assets from the former will pass to the Agency and from the latter, to be auctioned at fairly lower prices to the private sector.
In anticipation of the MOFIN's Accord of Partnership, the ministry sees a boost of 400M LOD, reaching 10B in annual budget. In light of the MOD's and Beiteynu's international presence and activities, the MOD's spending was increased by 2.5B, capping at 25.5B LOD per year.
Thus, budget allocation shall stand as follows:
- HEAD OF GOVERNMENT, 25M LOD
- FOREIGN AFFAIRS, 7.2B LOD
- INTERNAL AFFAIRS, 4.5B LOD
- FINANCE, 10B LOD
- DEFENCE, 25.5B LOD
- JUSTICE, 5.05B LOD
- INFRASTRUCTURE & TRANSPORT, 6B LOD
- HEALTH & SOCIAL SERVICES, 7B LOD
- EDUCATION & CULTURE, 10.5B LOD
- SCIENCE & TECHNOLOGY, 8B LOD
- FOOD & AGRICULTURE, 3B LOD
As a result, the government's surplus of 3B LOD will be allocated to the Investments Office of the Equifund, as per the Equifund Agreement.
Sources at the HH confirm that the party's agenda will focus greatly on MOIT over the next decade, with its primary focus being the joint NUCLEOBEIST Agreement with Istalia, while officials have also hinted that the party will continue to decrease government spending and operations as part of a 50-year-old plan.