A brief statement from the prime minister’s office said the move was “following the end of efforts to strengthen the alliance.”
The statement added that a bill would be introduced in Parliament sometime next week.
If approved, Lipid would be ready to take over as prime minister from Bennett, in line with the original coalition agreement reached last year.
Among other things, it could mean that Lapid will be the leader of Israel for a planned visit by US President Joe Biden next month.
This will be the fifth election in Israel in less than four years.
The Bennett-Lapid government has been in power for more than a year now, and was formed by a coalition of eight parties spread across all political arenas, including the first Arab leader under Mansour Abbas. The party was also involved.
Recent weeks, however, have seen several coalition members either resign, or threaten to leave, leaving the government without a majority in parliament to legislate.
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