After the words of Finance Minister Bezalel Smotrich today (Tuesday) at the Eli Horowitz Economic Conference, in which he stated that he finds a lot of logic in taxing banks' excess profits, bank stocks fell by 2.5%.

Demonstrators protested against Smotrich at the Horowitz Economic Conference, so he answered watch

Smotrich's full words in the above context: "Also in the context of centralization, we will deal with the institutional bodies and the effect of their enormous dimensions on the economy in its various sectors. It is impossible not to talk in the context of the fight against centralization and the cost of living about the bank's profits as a result of the increase in interest rates. Profits they get from the homeless and large interest gaps between credit and deposits and cannot be attributed to hard work and efficiency. I find a lot of logic in taxing these excess profits at high rates, mainly to prevent the banks from having the motivation to obtain them, and to make them roll them back to the public using the variety of tools at their disposal. This is the best way to correct the distortion created by the interest rate differentials and make it easier for the mortgage-taking public, without harmful legislative intervention as reflected in several private bills that are placed on the table from time to time and while maintaining the stability of the banks and the independence of the Bank of Israel, which is critical in a modern Western economy."