On April 27th, the China Wealth Management 50 Forum and the Chinese Academy of Fiscal Sciences jointly held a special meeting on “Fiscal Policy in the Current Economic Situation” At the meeting, it was recommended to further increase the end of the VAT tax refund to promote private investment.

Lou Jiwei said that the current tax reduction and fee reduction measures are very necessary, such as periodic reduction and exemption of corporate social insurance premiums, delayed payment of housing provident funds, and expansion of unemployment insurance protection Scope, increase the export tax rebate rate of some products, etc.

For many local governments began to issue consumer vouchers to stimulate consumption, Lou Jiwei said that in addition to subsidizing residents and promoting higher consumption, consumer vouchers can also help restart business .

“These measures are using financial resources, considering that it will definitely break through the budget originally reported to the National People’s Congress this year, so the budget should be adopted as soon as possible to increase the deficit.” Lou Jiwei Say.

In 2019, China ’s fiscal deficit rate was 2.8%, and the new special debt limit was 2.15 trillion yuan. Lou Jiwei believes that both figures will increase accordingly this year.

Lou Jiwei said that in particular, the central government ’s general public budget deficit and the central government ’s transfer payments to local governments should be expanded to ensure that the fiscal cuts caused by the epidemic situation will not affect the Determine the expenditure and make up for the fiscal gap caused by tax cuts.

As for the impact of the epidemic on fiscal revenue this year, Lou Jiwei predicts that the general public budgetary revenue in 2019 will be about 19 trillion yuan. This year ’s epidemic may cause economic slowdown Reduce fiscal revenue by 1.5 trillion.

In addition, he also proposed to reduce the occupation of corporate liquidity and promote private investment by further strengthening the policy of end-of-period value-added tax rebate.

“First of all, we must solve the problem of 1.5 trillion tax cuts. If we increase the value of VAT tax credits, we will estimate the scale of 2.5 trillion tax rebates, which is 2.5 trillion. Together with the increase in general expenditures to combat the epidemic, the deficit is at least 3 trillion. ”Lou Jiwei said.

In terms of local government special debts, Lou Jiwei said that the increase this year will depend on the number of qualified projects, and the special debts must correspond to public investment projects with certain returns.