A Sustainable Jerusalem
Reversing the City’s Current Fiscal Trend
For decades, Jerusalem has suffered from considerable budgetary difficulties and a deficit-based financial management. This project was established on the background of the ambitious goal of reversing the city’s fiscal trend. The project aims to strengthen the long-term financing ability of the city and its metropolis. Furthermore, the project seeks to examine alternatives to the financial management of the Jerusalem municipality with an eye to enabling growth and a strategic orientation.
A sustainable solution for Jerusalem’s budgetary distress, namely a balanced, growing, strengthened, fiscally cautious operational budget, is one that will facilitate a stable and positive economic administration of the city. One of the main tools used by the project is the “financial innovation laboratory”, in which international and Israeli experts convened to suggest strategies and solutions for budgetary concerns. Such solutions will enable expanding the tax collection base in Jerusalem, while planning tax measures in a way that preserves the strategic balance vis à vis the development of the area. The suggested tools refer to tax paths on one hand and to possible investments and support for development on the other, such as from businesses in the city, tourists, and ways of attracting private-sector activities. A practical report will be produced and submitted to the Jerusalem Municipality.