It depends on how you define the Israeli right.
It is an amalgamation of Nationalist, Relgious groups, and classical liberals.
The religious parties are not opposed to welfare and the Natioanlist are not liberatarians. However, they take cultural positions far to the right of the GOP.
The Likud Party, the standard-bearer of the right, is free-market.
When judging Israeli politics, you must understand that Israel has been at war for its entire existance and that socialists were in power for the first 30 years.