China Financial Daily

Finance Minister Xie Xuren: the central budget this year to complete task
Finance Minister Xie Xuren said on the 24th, this year, the central budget for the implementation of the main problem is the decline in more revenue, the obvious contradiction between revenue and expenditure to complete the budget task is arduous.

Entrusted by the State Council on the 24th Xie made to the NPC Standing Committee in 2008 the State Council on the report of the central accounts. He pointed out that the January to May this year, the country’s financial revenues fell 6.7%. Among them, the central of the 14 percent decline in revenue, local revenue growth despite a slight, but the main non-tax revenue growth, tax revenue declined.

Decline in fiscal revenue in the analysis of the reasons more, Xie pointed out that the four points:

First, by the international financial crisis, China’s economic growth slowed, foreign trade import and export volume decreased more substantially reduced corporate profits, so that the main tax-related reduction in the tax base.

Second, the consumer price and producer price decreased, so that current prices reduce its revenue and more.

Third, implementation of structural and tax policy to open a special value-added tax reform, further raising the export tax rebate rates, the continued implementation in 2008 has introduced policies such as tax relief, a corresponding reduction in more income.

Fourth, the financial base of the same period in 2008 is too high. At the same time, growth for the security, livelihood security, maintaining stability and implement the proactive fiscal policy to ensure that arrangements for the beginning of the focus of budget spending needs, financial expenditure, especially the central fiscal expenditure under immense pressure.

Xie stressed that the next stage of this year, the financial work will seriously implement the policies of the major fiscal and taxation measures, efforts to protect and improve people’s livelihood. Pay close attention to increase revenue and reduce expenditure, deepen the fiscal and taxation system reform in four areas, focusing on maintaining stable and rapid economic development .

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