Benjamin Netanyahu has offered a new deal to Hamas which would see Israel pay $1m for each of the remaining Oct 7 hostages and allow their captors to leave.

The Israeli prime minister’s plan would involve his country’s military guaranteeing safe passage out of Gaza for the Palestinians holding Israeli hostages.

An Israeli official said the hostage-takers and their families would be allowed to leave Gaza and avoid capture or punishment under the agreement, with the Israeli government paying millions for the hostages.

The initiative was put in motion following Sunday’s security cabinet meeting where the hostage situation was discussed.

Hamas has not yet responded to the initiative, which was first revealed by Israeli broadcaster Channel 12. It comes after the terror group turned down a proposal put forward by Egypt that would have seen a two-day ceasefire declared in Gaza if they had agreed to return four Israeli hostages.