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Original title: “No Rapid Changes” Fiscal Policy Will Help Build a New Pattern of Development
In this year’s governmentjobsreportIn China, the tone of proactive fiscal policy has turned from “more proactive and promising” to “improving quality and efficiency,” emphasizing “more sustainable.” The report proposed to reduce the deficit rate and stop issuing special programs against the epidemic.National debtEtc., are closely related to the current situation of economic recovery. The objective of the policy is to improve efficiency to protect the mainstrategyImplementation, especially to accelerate the construction of a new development pattern.
At present, the connotation of “positive” is expanding accordingly. Whether politics is active or not, it must be combined with economics.societyThe analysis of the situation also depends on whether the same fiscal funds have been more effective.
The tone of this year’s policy and specific policy adjustments are closely related to the gradual recovery of my country’s economy and diminishing risks.
First of all, this tone andSpecific policyThe policy adjustment reflects that the policy is more pragmatic and flexible, adjusts over time according to the situation, does not engage in flood irrigation, and signals high-quality development. This adjustment is not just an initiative, it is also dictated by the situation.
Second, the current economy continues to recover and economic and social risks are diminishing. Objectively, political efforts must be adjusted and normalized to leave enough political space for future uncertainties and risks, and policies must be sustainable.
Third, uncertainty remains due to repeated epidemics, the global economic situation is complex and changing, and the foundations for economic recovery are not solid. To maintain the necessary support for economic recovery and reasonable spending intensity, policies must have continuity and stability.
Fourth, the fiscal revenue and expenditure situation is in a very balanced state, and the basic fiscal “three guarantees” require active support from fiscal policy.
Fifth, accelerating the construction of a new development pattern requires the fiscal sector to do something and make a big difference.The core of the new development pattern issupplySimpleindustryChain upgrade and expansion on the demand side, technological innovation on the supply side,Industrial modernizationAnd on the demand sideconsumptionAnd effectiveinvestmentExpansion must play a fiscal role. Finance is driven directly by central investment, special debt, etc.Effective investmentAnd at the same time, improve the personal tax system, increase transfer payments to low and middle income groups,Optimize the expense structureWait for improvementResident consumptionAbility and willingness to consume.
In this year’s government work report, proactive fiscal policy has distinctive features, that is, improving quality and efficiency and making it more sustainable. The direction of spending points to “six stability”, “six guarantees” and a new pattern of development.
The improvement in quality and efficiency is mainly reflected in the general planning of financial resources, optimizing the expense structure and strengtheningmanagement, Increase the input-product relationship ensuring the focus of spending. Strengthen the articulation of financial resources and the four budgets, unleash the efficiency of each fiscal fund and avoid the coexistence of the precipitation of funds and insufficient funds Continue optimizing the government andmarketRelationship, optimize the spending structure, the strict life of the government is to allowMarket playersLive a good life.
More sustainable is mainly reflected in avoiding the governmentTo take advantage ofRise too fast, emphasize local debt risk and “three guarantees” risk, and value policy space. This year’s spending and debt scale agreements are conducive to keeping the public sector’s leverage ratio basically stable. at the same time,Tax cutsThe rate reduction policy focuses on “optimization and implementation”, and no longer emphasizes the effect of scale and quantity, but should place more importance on the role of tax cuts and rate reductions in adjusting the rate. structure: Reducing taxes and reducing tariffs lead to reducing market agentscostHowever, continued tax and fee reductions have led to diminishing marginal effects. The effect of tax and rate cuts must depend on other structural reforms to work together.
Great protectionNational strategyImplementation, the direction of spending points to “six stability”, “six guarantees” and a new pattern of development. From the perspective of this year’s spending direction, the main focus is expanding domestic demand, technological innovation, protecting people’s livelihoods, ensuring the functioning of grassroots finances, eliminating risks, preventing pollution and revitalize rural areas, all pointing to a new pattern of development. In general, the adjustment of the fiscal scale and the direction of spending reflects that fiscal policy focuses more on the financial guarantee of the country’s main strategy when it is closely balanced. It not only plays the role of total adjustment of the countercyclical fiscal policy. adjustment, but also plays the role of structural reform.
(Source: Daily economic information)
(Editor in charge: DF407)
I solemnly declare: The purpose of this information is to spread more information, and it has nothing to do with this booth.
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