“Governments all round the world are facing difficult decisions about how to get their budget deficits down – in the United States, in Britain and here in Israel, too.

In all our countries, we are debating how to boost economic growth and ensure that the burden of the tough choices that are needed is fairly shared.

But while domestic budget debates here in Israel are contested with vigor and passion, it is hard for a British visitor not to look on with some envy.

Because with inflation low, national debt falling, real wages rising, and growth forecast to be above 3.5 percent this year and next, Israel has a markedly stronger economic platform from which to build.

And with its famously entrepreneurial culture, high levels of civilian research and development and the largest concentration of business start-ups anywhere outside Silicon Valley, the Israeli economy looks well placed to go from strength to strength in the years ahead.”

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