The central government's 1.7 trillion yuan has basically been lowered and it is expected that the new annual burden reduction will exceed 2.5 trillion yuan

　　Active finance strongly supports economic development (Rui Finance)

　　On November 12, the State Council Information Office held a regular policy briefing of the State Council. Relevant persons in charge of the Ministry of Finance and the State Administration of Taxation gave an introduction on the direct mechanism of fiscal funds and the progress and effectiveness of tax and fee reduction work, and answered reporters’ questions on hot issues .

　　The latest data shows that as of the end of October, the central government’s direct funding of 1.7 trillion yuan has basically reached its position, local actual expenditures are 1.198 trillion yuan, and the expenditure progress is 70.9%, which is 4.2 percentage points higher than the scheduled progress, effectively enhancing the level of grassroots financial resources. , Which has strongly supported epidemic prevention and control, economic and social development, and poverty alleviation work, and provided a strong guarantee for the "six stability" work and the implementation of the "six guarantees" tasks.

At the same time, the nationwide new tax and fee reduction policy is expected to reduce the burden of market entities by more than 2.5 trillion yuan throughout the year. Significant results have been achieved in stabilizing market confidence and employment, and the sense of gain for market entities and the people has been significantly enhanced.

　　Fully serve the "six stability" and "six guarantees"

　　This year, the establishment of a direct mechanism for fiscal funds and the continued implementation of tax and fee reduction policies are important measures to support local governments in doing a solid job of "six stability" and fulfilling the tasks of "six guarantees".

　　Xu Hongcai, Vice Minister of Finance, said that from the perspective of fund distribution, as of the end of October, of the 1.7 trillion yuan under direct management, the central government had allocated 1.695 trillion yuan, a progress of 99.7%, and all qualified funds had been released. , The main thing that has not been issued is to reserve funds for follow-up epidemic prevention and control subsidies.

Judging from the use situation, as of the end of October, all localities have reduced the 1.607 trillion yuan budget target of 326,300 projects to reach the capital use unit.

　　Xu Hongcai pointed out that accelerating the allocation and use and optimizing the expenditure structure have played an important role in the "six stability" work and the implementation of the "six guarantees" tasks: first, the funds are issued more quickly and the efficiency of fund operation is significantly improved; second, the direction of fund investment is more precise , The effectiveness of the policy of benefiting enterprises and the people has been significantly improved; third, the supervision of funds has become more stringent, and the use of funds has become more standardized.

　　Specifically, in terms of ensuring the employment of residents, 46 billion yuan has been spent on employment subsidies and vocational skills upgrading activities, and 130 billion yuan has been spent on subsidies for people in difficulties; in terms of ensuring basic people’s livelihood, the funds used for people’s livelihood have reached In terms of protecting market entities, a total of 580 billion yuan has been spent to benefit enterprises, benefiting 740,000 various market entities, and a total of 1.4 million business trips; in terms of supporting the construction of major projects, More than 2,000 projects of more than 100 million yuan have been arranged with direct funds, with a total scale of more than 450 billion yuan.

　　"Policy package" accurate push

　　Since the beginning of this year, in order to coordinate the promotion of epidemic prevention and control and economic and social development, 7 batches of 28 preferential tax policies have been introduced.

　　"In the first three quarters of this year, the country’s new tax cuts and fees totaled 2,092.4 billion yuan, of which 737.9 billion yuan was added in tax cuts, and 1354.5 billion yuan in additional fee cuts.” Cai Zili, Director of the Revenue Planning and Accounting Department of the State Administration of Taxation, introduced. The effect of "policy package" accurate push mainly reflects "one drop, two increase, three stability":

　　"One drop" refers to the continuous decline in the burden of market entities.

In the first three quarters of 2020, the tax burden of key tax source enterprises per hundred yuan of operating income fell by 0.63 yuan, a drop of 9.4%.

　　"Two Increases" refers to "increased vitality of market players" and "increased corporate operating efficiency."

In the third quarter of this year, the number of new market entities that went to the taxation department to handle tax-related matters increased by 24.5% year-on-year, an increase of 17.4 percentage points from the second quarter; the total profit of the national key tax source enterprises in the quarter increased by 4.9% year-on-year, an increase compared with the second quarter An increase of 8.1 percentage points.

　　The "three stability" refers to the steady recovery of employment, the steady recovery of corporate investment, and the steady improvement of development expectations.

The State Administration of Taxation conducted a questionnaire on the production and operation status of 20,000 enterprises, which showed that 68.6% of the enterprises are expected to develop better in the fourth quarter, an increase of 15.9 percentage points from the end of the first half.

　　Standardize local government debt management

　　In response to the risks and pressures that local governments may face in the use of anti-epidemic special treasury bonds, Xu Hongcai said that the Ministry of Finance has made some institutional arrangements for the issuance and use of anti-epidemic special treasury bonds to avoid risks as much as possible.

Specifically, there are four key points:

　　First, the financial situation of various localities is taken into consideration when the funds of the special national debt are allocated to fight the epidemic.

From the perspective of different provinces, the principal repayment amount of each province is roughly in harmony with its financial level, which to a certain extent ensures that the local government can repay at due date.

　　The second is to make it clear in the policy that localities can coordinate and arrange the source of repayment in light of actual situations.

Local governments are allowed to repay various financial resources such as general public budgets, government fund budgets, and state-owned capital operating budgets in addition to project revenues.

　　Third, the central and local governments share the source of debt service for the anti-epidemic special national debt.

The interest of the anti-epidemic special national debt is borne by the central government, and the local government does not need to bear the interest. Of the 1 trillion yuan of principal, the central government is responsible for repaying 300 billion yuan, and the local government is responsible for repaying 700 billion yuan.

　　Fourth, the anti-epidemic special national debt is a national debt issued by the central government.

After the expiry date, the central treasury collects the principal that the local government has to bear through settlement, and the central treasury will repay it uniformly.

　　"We have adopted a series of measures to standardize the management of local government debt, including resolutely curbing the increase in hidden debt, actively and steadily resolving the stock of hidden debt, and accountability for relevant units and personnel who borrow debts in violation of regulations, etc., to ensure that Regional and systemic risks occur." Xu Hongcai said.

　　Wang Junling