Israeli Finance Minister Bezalel Smotrich threatened Sunday to overthrow the government of Prime Minister Benjamin Netanyahu if the latter calls off a plan to invade the southern city of Rafah and accepts Egypt's new proposal for a ceasefire deal in the Gaza Strip.

"If you decide to fly a white flag and cancel the order to conquer Rafah immediately to complete the mission of destroying Hamas and restore peace for the residents of southern Israel and all of the country’s citizens, and return our abducted brothers and sisters who are held hostage to their homes – then the government you head will have no right of existence," Smotrich wrote on X.

The Minister considered that should Netanyahu accept the ceasefire proposal, it would be a "humiliating surrender".

Should Smotrich's Religious Zionism Party withdraw from the ruling coalition, Netanyahu's government would rely on opposition leader Benny Gantz, the head of the centrist National Unity Party, to maintain its position in office.

A new Israeli proposal for a potential captive deal with Hamas involves a "willingness" to discuss the "restoration of sustainable calm" in the Gaza Strip following an initial release of captives on humanitarian grounds, Axios reported citing Israeli officials.

According to Axios, this marks the first instance since October 7 that Israeli leaders have signaled their willingness to discuss ending the aggression on Gaza as part of negotiations for a captives deal. Hamas has consistently made ending the war a focal point of its proposals in recent months during these negotiations.

A group of Egyptian intelligence officials visited "Israel" on Friday for discussions with representatives from the Shin Bet, Israeli occupation forces (IOF), and Mossad regarding the captive file and a potential Israeli military invasion of Gaza's southern city of Rafah.

After the talks concluded, Israeli officials indicated that the Egyptians presented a new proposal to Hamas indicating "Israel's willingness to make further significant concessions," the news website mentioned. Hamas confirmed Friday evening it received the proposal and announced it will review it before responding.

Axios cited the Israeli officials as saying the new proposal was developed collaboratively by the Egyptian intelligence delegation and the Israeli negotiation team, considering the positions articulated by Hamas thus far and the potential terms both "Israel" and Egypt believe the Palestinian Resistance group might accept in a deal.

The Israeli officials claimed the new proposal addresses many of Hamas' demands, "such as a willingness for full return of displaced Palestinians to their homes in northern Gaza" and the withdrawal of IOF presence from the corridor dividing the Gaza Strip.

Additionally, the proposal includes "a willingness to discuss the establishment of a sustainable ceasefire" as part of the second phase of the agreement, following the humanitarian release of captives held by Hamas, according to Axios.

Read more: An Israeli invasion of Rafah would mean a new Nakba: Abbas