The latest "national ledger" is out! Entrusted by ***, the Ministry of Finance submitted to the Second Session of the 14th National People's Congress on March 5 to review the "Report on the Implementation of the 2023 ** and Local Budgets and the 2024 ** and Local Budgets".
What are the features of this year's budget? Why is the deficit ratio proposed to be arranged according to 3? Ultra-long-term special treasury bonds "special" in **? How to make good use of the structural tax and fee reduction policies? How can we exchange the tight life of the party and government organs for a good life for the common people? Let's take a look at the quick questions and answers in this issue
Q: What are the characteristics of this year's budget?
Answer: **The economic work conference requires that the active fiscal policy should be moderately strengthened, and the quality and efficiency should be improved. As the "national ledger", this year's budget report fully reflects this requirement.
The 2024 budget arrangement reflects the intention of decision-making and deployment, strengthens the counter-cyclical and cross-cyclical adjustment of macro policies, and continues to implement a proactive fiscal policy. Ju Shuwen, deputy to the National People's Congress, Secretary of the Party Leadership Group and Director of the Department of Finance of the Inner Mongolia Autonomous Region, said.
Q: Why is the deficit ratio proposed to be arranged according to 3?
Answer: According to the budget report, this year's deficit rate will be arranged according to 3, and the scale of the national fiscal deficit will be 4.06 trillion yuan, an increase of 180 billion yuan over the budget at the beginning of last year. Among them, the ** fiscal deficit is 3.34 trillion yuan, and the local fiscal deficit is 720 billion yuan.
This year's deficit ratio arrangement not only ensures policy continuity and necessary spending intensity, but also helps to enhance fiscal sustainability and reserve policy space to deal with possible risks and challenges in the future. Li Xuhong, vice president of Beijing National Accounting Institute, said.
Q: Is the ultra-long-term special treasury bond "special" in **?
Answer: According to the budget, 1,000 billion yuan of ultra-long-term special treasury bonds will be issued this year, which will not be included in the deficit and will be earmarked for the implementation of major national strategies and security capacity building in key areas.
Li Xuhong believes that compared with ordinary treasury bonds, ultra-long-term special treasury bonds can be matched with major projects that require long-term investment due to their longer maturity, which is conducive to alleviating the capital turnover pressure of major projects and ensuring the sustainability of projects. At the same time, the funds of ultra-long-term special treasury bonds are earmarked to support the implementation of major national strategies and security capacity building in key areas, which is conducive to improving China's innovation capability and core competitiveness, promoting the construction of a modern industrial system, and forming new quality productive forces.
The issuance of ultra-long-term special treasury bonds reflects the need to strengthen counter-cyclical and cross-cyclical adjustments, and is conducive to better leading and driving social investment. In the process of expenditure, debt funds will play a strong supporting role in employment and people's livelihood. * Bai Yanfeng, a professor at the School of Finance and Taxation of the University of Finance and Economics, said.
Q: How to further make good use of the structural tax and fee reduction policies?
Answer: The budget report proposes to coordinate the needs of macroeconomic regulation and control, fiscal sustainability and optimization of the tax system, implement structural tax and fee reduction policies, and focus on supporting scientific and technological innovation and the development of the manufacturing industry.
Yang Zhiyong, director of the Fiscal and Taxation Research Center of the Chinese Academy of Social Sciences, believes that this year's tax and fee reduction policies are more targeted and precise, "combined with the requirements of accelerating the formation and development of new quality productive forces, and making good use of preferential tax and fee policies." Scientific and technological innovation focuses on the development of emerging industries and future industries, and structural tax and fee reduction policies should focus more on such industries."
China has implemented a series of preferential tax policies for high-tech enterprises, technology-based small and medium-sized enterprises, R&D institutions and other innovative entities, while encouraging enterprises to increase R&D investment, fully guiding the concentration of innovation resources to enterprises, and providing strong support for high-quality development. Li Xuhong said.
Question: How can we exchange the tight life of the party and government organs for the good life of the common people?
Answer: In terms of improving quality and efficiency, the budget report proposes to implement the requirements of party and government organs to get used to living a tight life, and strictly control general expenditures; optimize the structure of fiscal expenditure, strengthen major national strategic tasks and basic people's livelihood financial guarantees; Strengthen performance management, and continue to improve the efficiency of financial resource allocation and the use of funds.
In terms of fiscal expenditure arrangements this year, we will continue to increase investment in people's livelihood, insist on doing our best and doing what we can, and better coordinate fiscal sustainability with people's livelihood protection and improvement. Yang Zhiyong said.
Quartz Hua believes that this year's fiscal expenditure will optimize the structure, improve efficiency, and continue to focus on key areas to promote high-quality development. The fiscal policy fully reflects the temperature, focuses on supporting the protection and improvement of people's livelihood, strengthens the construction of basic, inclusive and comprehensive people's livelihood, and continues to improve people's livelihood and well-being in high-quality development.
Reporter Zeng Jinhua, Ma Chunyang, planner, Wang Yue, Lang Bing).
*: Economic news client.