Former Minister of Finance, Lou Jiwei, the former Minister of Finance, gave his views on the efficiency of fiscal policy next year in a speech on Friday (25th).He believes that in general, the scale of general public budget deficit in China needs to increase, mainly for regular expenses, and the deficit rate may be increased to more than 3%.
According to the First Financial Report, Lou Jiwei said in the 50 -person Forum of Wealth Management in China that tax cuts and fees will still be used as the main measure next year, so as to keep market entities and employment.
He said: "Next year, it can continue the VAT tax refund policy. This policy has benefited a lot of manufacturing companies and some small and micro enterprises.Wait, because the upstream and downstream deduction chains are incomplete, it is difficult to retain tax refund. Some adopt a simple method of levy and there is no tax refund. Therefore, it has adopted them to exempt the VAT.More than 3 trillion yuan, after most of the year has digested, the tax refund effect will be weakened next year. "
In terms of fiscal policy, Lou Jiwei said that the focus of fiscal policy next year isOptimize expenditure policy.
Lou Jiwei said: "This year this year for small and micro enterprises, individual households, and contact service industries to reduce the rent and exemption of rent and exemption, it is necessary to reduce the rent and exemption of rent, but due to its financial capacity, the subsidy is insufficient.You can consider increasing the scope of subsidies, such as subsidies for hydropower gas. This needs to be relying on the central government to increase recurring expenses, and some can be implemented by the financial direct mechanism to allow the local government to implement it.Sexual issuance of consumer vouchers. Data can be paid through tax and social security funds to distinguish the objects that need to be rescued. "
He believes that the overall estimation needs to increase the central fiscal deficit, and the local deficit can also increase appropriately.In general, the scale of general public budget deficit in the country needs to be increased, which is mainly used for regular expenses. The deficit rate may be increased to more than 3%.
From the perspective of the Economic Work Conference of the CPC Central Committee in recent years, in 2016 and 2019, there are also the "Li Li" statement of fiscal policy. In the past two years, the fiscal deficit rate rateIncreased, and the increase in deficit rates, the increase in the scale of deficit has increased the scale of fiscal expenditure, which is one of the manifestations of active fiscal policy.Recently, many experts generally believe that the fiscal deficit rate needs to be improved compared to this year (2.8%), and many suggestions are mentioned to 3%or even more.
