How is the fiscal policy going this year under the outbreak?

This year, the focus of active fiscal policy is still to improve quality and efficiency, pay attention to the adjustment of expenditure structure, and increase the guarantee of epidemic expenditure. China's epidemic of novel coronavirus pneumonia has been the key to the outbreak of the disease. The epidemic situation has a certain impact on the economic and social operation, and will the fiscal policy as one of the macro policies be affected and adjusted? On February 16, Liu Kun, Minister of finance, wrote the article "active fiscal policy should greatly improve the quality and efficiency" and replied to this aspect. The first financial reporter found that this article continued the keynote of active fiscal policy in 2020 before the epidemic, which means that the epidemic will not change the direction of fiscal policy this year. On the contrary, when the epidemic led to the reduction of fiscal revenue, the government should increase the financial expenditure of the epidemic, which further strengthened the basic setting of fiscal policy this year, that is, active fiscal policy should vigorously improve quality and efficiency, highlight structural adjustment, and ensure the sustainable operation of fiscal economy. As early as last December's central economic work conference, it was set that this year we should continue to implement active fiscal policies, vigorously improve quality and efficiency, pay more attention to structural adjustment, resolutely reduce general expenditures, do a good job in ensuring key areas, and support grassroots workers to ensure wages, transport and people's livelihood.

Many financial and tax experts told the first financial reporter that although the tone of the active fiscal policy remained unchanged, the policy orientation changed from tax reduction and fee reduction to expenditure structure adjustment and optimization. At the national financial work conference at the end of December last year, it was clearly required that the active fiscal policy in 2020 should be vigorously improved in quality and efficiency, pay more attention to structural adjustment, consolidate and expand the effect of tax reduction and fee reduction. Liu Kun's more than 7000 words article mainly discusses the reason, connotation and important content of improving quality and efficiency of financial policy. This means that despite novel coronavirus pneumonia, the focus of fiscal policy in 2020 has not changed. On the contrary, the epidemic forced the fiscal policy to further improve the quality and efficiency. "The outbreak of novel coronavirus pneumonia at the beginning of this year will bring difficulties to the production of enterprises and increase pressure on financial revenue. At the same time, we must increase fiscal expenditure and strengthen funding for epidemic prevention and control. We will continue to study and introduce phased and targeted measures to reduce taxes and reduce costs, and ease the difficulties of enterprises. This further requires positive fiscal policies to improve quality and efficiency." Liu Kun said in the above. Under the impact of economic growth slowdown and tax reduction and fee reduction policies of more than 200 billion yuan, Liu Kun judged that in the future, the financial sector as a whole will face the pressure of reducing revenue and increasing expenditure, and the financial operation will still be in a "tight balance" state.

"In this case, it is not feasible to implement a positive fiscal policy simply by expanding the scale of fiscal expenditure. We must tap into the potential, adhere to optimizing the structure, invigorating the stock and making good use of the increment, improve the directivity, accuracy and effectiveness of policies and funds, and ensure the sustainable operation of the fiscal economy." Liu Kun said. Although the tone of fiscal policy has not changed this year, the policy is more flexible and targeted. At present, the Ministry of Finance and other departments have issued a package of fiscal and tax preferential policies for epidemic prevention and control, and increased financial support. In the above-mentioned article, Liu Kun made clear six major tasks of financial expenditure this year. One major change is that he joined the people's war, the general war and the resistance war to support and win epidemic prevention and control for the first time, and listed them as the major tasks of expenditure. "It is the most urgent and important work for the financial departments at all levels to increase capital investment, guarantee the funds for epidemic prevention and control, launch and implement various fiscal and tax support policies rigorously and carefully." Liu Kun said. As of February 13, finance departments at all levels had allocated 80.55 billion yuan for epidemic prevention and control, with an actual expenditure of 41 billion yuan, assistant finance minister Owen Han said recently. Funds for epidemic prevention and control are guaranteed. At present, the Ministry of Finance and other departments have issued more than ten preferential tax policies to support patients' protection and treatment, material supply, public welfare donation and resumption of work. Liu Kun said that the central finance will continue to do a good job in funding guarantee according to the development trend of the epidemic and the needs of prevention and control, increase the allocation of funds for prevention and control of the epidemic at the grass-roots level, and manage and use the funds well. To ensure that the people are not afraid to see a doctor because they are worried about the cost, and that the medical treatment and epidemic prevention and control are not affected by the funding problem in all regions. In addition to epidemic prevention and control, the other five major tasks of this year's financial expenditure are: supporting poverty alleviation tasks to be completed as scheduled; promoting innovative development and industrial upgrading; promoting coordinated development of urban and rural areas; strengthening pollution prevention and ecological construction and further ensuring and improving people's livelihood.