Strained by its ongoing war on Gaza, Israel is looking to raise taxes this year to prop up defence spending for its offensive on the Palestinian enclave. The Israeli government is set to take on nearly $60 billion in debt in 2024, temporarily stop hiring for public sector jobs, and increase taxes to almost double its defence spending after more than four months of war in Gaza, the Financial Times has reported. Military expenditure is set to increase 85 percent compared to pre-war spending, meaning an additional 55 billion shekels, or around $15 billion, FT says. Among the measures is demobilising troops who joined the army following its October 7 war. More than 300,0
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