Israeli Finance Minister Silvan Shalom announced on Tuesday that taxation of the country's stock markets is a possibility, and that the committee appointed to examine capital market reform will have a free hand to make any recommendations it sees fit.
Mr Shalom told journalists at the Tel Aviv Stock Exchange that the Government intends to establish a forum of representatives from the Stock Exchange, the Securities Authority, and other financial regulatory bodies to discuss ways in which to reform the capital markets.
The Finance Ministry met yesterday to discuss the effects of the intifada on the Israeli economy. However, the Minister revealed that he would not be declaring an emergency program and imposing new taxes, as the current economic situation in Israel is also the result of the global downturn and the crisis in the US stockmarkets.
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