Hurvitz, Yigael

(1918-95)

   Born in Nahalat Yehuda, Hurvitz originally worked in agriculture but became an industrialist. He was first elected to the seventh Knesset in October 1969 on the State List and was reelected subsequently. He later served as chairman of the La'am faction of the Likud Party. He became minister of industry, commerce, and tourism in 1977 but resigned in September 1978. He replaced Simha Ehrlich as minister of finance in November 1979. He advocated hard-line economic policies; promoted austerity; and sought sharp cuts in subsidies, a reduction in civil service employment, some wage freezes, and other measures to reduce government expenditure. Under his stewardship, the Israeli pound was replaced by the shekel (the term drawn from the Bible), worth 10 Israeli pounds. Hurvitz later resigned his position, left Likud, and was elected to the Knesset in 1981 on Moshe Dayan's Telem Party list. In 1984, he entered the Knesset as the leader of the Ometz (Courage) list. He served as minister without portfolio in the Government of National Unity established in 1984. Hurvitz was elected to the Knesset on the Likud list in 1988. He retired from the Knesset in 1992 and died on 10 January 1995.

   See also Currency.