Overhaul of the implementation regulations of the budget law: expansion of the functions of the financial department
overhaul of the implementation regulations of the budget law: expansion of the functions of the financial department
China Construction machinery information
the central bank manager, the central treasury, needs to accept the guidance and supervision of the Ministry of Finance and be responsible for the central financeAfter ten years of revision, the budget law was finally passed. Although it absorbed the spirit of reform to a large extent, it was mostly standardized in principle; The provisions of the implementation regulations of the budget law on the operating rules are crucial to the implementation of the budget law
an obvious feature of the revised draft of the implementation regulations of the budget law is that the functions and powers of the financial department have been greatly expanded. In this regard, some people believe that the third Central Committee of the 18th CPC Central Committee has made it clear that finance is the foundation and important pillar of national governance. The authority of the financial department was seriously fragmented, and now it needs to be further expanded; Some people pointed out that the financial position is important, and we cannot unilaterally emphasize the power of the financial department. The people's Congress and the public are also important componentsOn June 24, the Legislative Affairs Office of the State Council announced the revised draft of the implementation regulations of the budget law drafted by the Ministry of finance to solicit public opinions until July 23
consistent with the revision of the budget law in 2014, the implementation regulations of this version are very different from those adopted in 1995. After ten years of revision, the budget law was finally passed. Although it absorbed the spirit of reform to a large extent, it was mostly standardized in principle; The provisions of the implementation regulations on the operating rules are crucial to the implementation of the budget law
the implementation regulations closely follow the budget law and are refined. If the budget is made public, the opinion draft specifies to what level different accounts should be made public; In terms of government debt management, it clarifies the connotation of balance and limit management, and provincial governments can issue short-term bonds to increase deficits under appropriate conditionsAnother obvious feature of the draft is that the functions and powers of the financial department have been greatly expanded. In this regard, some people believe that the third Central Committee of the 18th CPC Central Committee has comprehensively defined finance as the foundation and important pillar of national governance, and the authority of the financial department was originally dismembered, but now it needs to be further expanded; It is pointed out that the financial position is important, and the power of the financial department cannot be unilaterally emphasized. The people's Congress and the public are also important components
some regulations may still cause a new round of controversy. For example, with the efforts of the central bank and other departments, the budget law stipulates that "the central bank manages the treasury". However, the draft clearly stated that the central treasury, the manager of the central bank, should accept the guidance and supervision of the Ministry of Finance and be responsible for the central finance; The handling of local treasury business also needs to accept the guidance and supervision of the financial department at the same level and be responsible for local finance. On the Treasury issue, there are obvious differences of views on how to allocate the responsibilities of the financial department and the central bank
some local financial officials interviewed were not optimistic about the increase of the authority of the financial department, "the financial department is only the executive agency of the government, and the approval power can raise objections, but the objections sometimes do not play a big role, which is related to the decision-making mechanism of the government department"
"finance is the representation of economic operation and administrative management, and the contradiction is reflected in finance, but it is not in the financial department at all, and some reforms cannot be pushed by the financial department alone," a person in charge of the budget department of the local financial system told the 21st century economic report
from the perspective of restricting government power, the budget law and the draft implementation regulations obviously have a long way to go
clarify government debt management
some rules are clarified for the first time in the draft for comments on the implementation regulations. For example, the management of government debt
the central government debt implements "balance management", and the specific division of labor is: the National People's Congress approves the central general public budget debt balance; The central government determines the scale, variety structure, term structure and time point of bond issuance within the limit of the balance. The balance refers to the outstanding principal of the borrowed debt in the central general public budget
local government bonds are subject to "quota management". According to the budget law, the scale of local bonds needs to be reported by the State Council to the National People's Congress or the Standing Committee of the National People's Congress for approval. As for the distribution method in each province, it is expected that the proportion of high nickel 3-yuan materials will increase in the future. The draft stipulates that the Ministry of finance will calculate and report to the State Council for approval within the total limit according to factors such as local debt risk and financial status. The issuance of bonds by each province shall not exceed this limit, which includes general bonds and special bonds
local governments at all levels should be prepared according to the principle of "living within their income and balancing revenue and expenditure", and generally should not list deficits. Under special circumstances, if the annual budget implementation of provincial governments is short, and the balance of revenue and expenditure cannot be achieved by transferring into the budget stability adjustment fund and reducing expenditure, they can report to the people's Congress at the same level or its Standing Committee for approval, and can add deficits, which can be reported to the financial department of the State Council for the record, And shall make up for it in the next annual budget
the above is the provisions of the budget law, but the specific operation has not been explained. The draft made it clear that the increased deficit of provincial governments should be balanced by issuing short-term bonds within the local government debt limit issued by the State Council
the head of the above budget department told the 21st Century Business Herald that if local governments spend money indiscriminately, they may need to apply for increasing the deficit, but there may be some problems in allowing provincial governments to issue short-term bonds. It is now emphasized to speed up the progress of expenditure. At the moment of economic downturn and fiscal revenue growth downturn, it is possible that the budget implementation will not find a short fiscal revenue until September and October, and it will not be possible to achieve by transferring into the budget stability adjustment fund and reducing expenditure, but the amount of bond issuance has been used up. How can we make up for the deficit at this time? The Ministry of Finance applied to the Standing Committee of the National People's Congress for the quota again, and the procedure was a little troublesome
transfer payment "Whoever pays the policy will pay the bill"
the draft also stipulates transfer payment for the first time. For example, general transfer payments also include "financial subsidies given by higher-level governments to lower-level governments due to the introduction of expenditure increase or income reduction policies"
the influence of the friction coefficient in the printing process. The friction force in the gravure printing process mainly includes the friction of the equipment itself and the friction between the equipment and the printing materials and inks. In reality, it is very common. In recent years, the macro-economic growth rate has declined, and the central government has repeatedly issued active fiscal policies for tax reduction. The central government "sends gifts", often paid by the local government finance
according to the 21st Century Business Herald, some targeted tax reduction policies issued by the central government have a great impact on the financial resources of some grass-roots governments with a single industrial structure. Local governments apply to the Ministry of Finance for financial subsidies. Although they can get some subsidies, most of them are still paid by local finance
Yang Zhiyong, director of the Financial Research Office of the Institute of financial strategy of the Chinese Academy of Social Sciences, told the 21st Century Business Herald that the mechanism of "who pays the policy, who pays the bill" should be followed. If the policy of the higher-level government requires the lower-level government to have financial expenditure, the lower-level government should be given financial resources to make up for it
there are also relatively detailed provisions on budget disclosure of concern to the outside world. The newly revised budget law proposes to establish an open and transparent budget system in its general provisions, and defines the scope, subject and time limit of openness, but it does not explain the degree of openness
Liushangxi, director of the Institute of financial Sciences of the Ministry of finance, once said that the implementation regulations should refine the provisions of the budget law. On the one hand, it is to promote the further transformation and upgrading of the industry. On the other hand, it also enhances the exchange of information between our Taizhou plastic industry and the same industry nationwide and even globally. If the regulations are not in place, the implementation of the budget law will be greatly reduced
the draft points out that the department budget and final accounts should disclose the basic expenditure and project expenditure, and the department budget and final accounts expenditure should be disclosed to items according to their functions and to funds according to their economic nature; General transfer payments should be made public to regions, and special transfer payments should be made public to regions and projects
can the budget be effectively supervised to this extent? Wang Yongjun, Dean of the Institute of Finance and economics of the Central University of Finance and economics, expressed doubts. He told the 21st Century Business Herald that the disclosure of departmental budgets and final accounts means, for example, that the Ministry of Education publishes relevant funds and lists the amount of funds for "higher education" and "Vocational Education". This is still a very rough data, which does not correspond to specific expenditures and there is no way to supervise
the return of some functions of the financial department
the opinion draft has strengthened the authority of the financial department in many places
for example, in the management of special transfer payments. The draft points out that "the central government's application for local special transfer payments shall be submitted to the Ministry of finance by the relevant competent departments of the central government and local governments, and the Ministry of Finance shall, after examination in accordance with laws, administrative regulations and the provisions of the State Council, submit it to the State Council for approval and establishment"
in 2014, the scale of central to local transfer payments in China was 4.67 trillion yuan, accounting for 70% of the central fiscal revenue; Among them, the scale of special transfer payments is 1.95 trillion yuan, accounting for about 42% of the total transfer payments. Due to the opaque distribution rules and excessive quantity of special transfer payments, it is easy to cause problems such as "running away from the Department to get money" and "spreading pepper". The new budget law clearly stipulates that general transfer payments should be the main method
Liu Jianwen, President of China finance and Tax Law Research Association and professor of Peking University School of law, told the 21st Century Business Herald that the current management of special transfer payments in China is divided and entrusted to different government departments, which is easy to bring about problems such as transparency, efficiency and fairness in the selection of hydraulic oil for special funds. It is reasonable for the financial department to be responsible for this return
Liu Jianwen further said that the draft clearly stipulates the responsibilities of the Ministry of finance, and then set up a special transfer payment, which needs to be applied to the Ministry of finance first, and then submitted to the State Council for approval after being reviewed and approved by the Ministry of finance. The financial department is the Department responsible for financial revenue and expenditure, and it is the legitimate scope of responsibility of the Ministry of finance to check this
for another example, if budgetary arrangements are involved, the consent of the financial department should be obtained. Specifically, "the regulations and normative documents formulated by various departments of the State Council, which involve the reduction or exemption of payable budgetary revenue, the establishment and change of revenue items and standards, the treatment of fines and confiscated property, the standards and scope of expenditure, the disposal of state-owned assets, income distribution and accounting, shall comply with the unified provisions of the state and shall not violate the provisions of laws and administrative regulations; those involving budgetary arrangements shall obtain the consent of the Ministry of finance.". For local governments, "if matters related to budgetary arrangements are involved, the opinions of the financial department of the government at the same level shall be solicited"
the major performance of the budget related policies issued by various departments is that the expenditure in key areas is linked to GDP or fiscal revenue and expenditure. For example, in the education law, science and technology law, agricultural law and other department laws and regulations, in order to ensure the expenditure in the above areas, there are often hard target requirements for fiscal expenditure, which is easy to cause the fiscal expenditure to be fragmented, difficult to achieve overall planning, and easy to cause the low efficiency of the use of fiscal funds. The newly revised budget law clearly points out that such linking behavior is not allowed in the future
Yang Zhiyong said that revenue and expenditure and asset liability management involving government departments are all functions of finance, and the division of labor between financial departments and professional functional departments should be clear. It turns out that each department can formulate policies related to the budget at will, which is a financial function
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