[Budget 2022] This year's Budget recorded a budget surplus of 18.9 billion yuan, a far cry from the original budget deficit of 101.6 billion yuan.
Financial Secretary Paul Chan explained at the Budget press conference that after deducting government bond issuance and fund repatriation, there is actually a deficit of more than 60 billion yuan.
The deficit is only half of the original estimate. Chen Maobo said that the main reason is that the income from land sales and the land premium paid by developers are higher than expected, with a total of more than 40 billion yuan.
He stressed that since the deficit is much smaller than originally thought, thanksgiving can introduce measures more decisively.
Chen Maobo (second from left) said at the press conference that last year's budget originally expected to have a deficit of about 100 billion yuan this year. This time, although there was a surplus of more than 18 billion yuan, after deducting more than 35 billion yuan of debt issuance, there is actually a deficit.
(Information Services Department)
Developers pay more than 40 billion yuan in land premium
When attending a press conference, Chen Maobo said that last year's budget was originally expected to have a deficit of about 100 billion yuan this year. Although there is a surplus of more than 18 billion this time, after deducting more than 35 billion yuan in bond issuance, there is actually a deficit. In 2022, the housing reserve fund will be repatriated, and the accumulated income of future fund investment will be 25 billion yuan. If the relevant accounts are excluded, there will actually be a deficit of more than 60 billion yuan.
As for the deficit, which is still much lower than last year's estimate, Chen Maobo said that the government's revenue increased by more than 40 billion yuan due to the land premium paid by developers, which he described as "not seen in many years".
▼Budget Lazy Bag▼
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More low- and middle-income earners fall out of the tax net
Chen Maobo analyzed the tax situation in detail and found that the epidemic has hit the grassroots the most, because the previous year's salaries tax and profits tax rebate amounted to a maximum of 20,000 yuan, and last year, it was lowered to the upper limit of 10,000 yuan, but it did not increase the income in this area. People pay tax.
However, the tax revenue has increased, because in the distribution of taxpayers, the income of the middle- and low-income people has decreased, while the income of the high-income people has increased, resulting in more taxation.
He pointed out that the salaries tax revenue was $9 billion, and the fact that some people applied for a deferral of tax payment last year has increased the book revenue this year.
Under the financial and real estate epidemic, Changwang has overcharged 45 billion yuan in profits tax
Chen Maobo mentioned that the government originally estimated that the profit tax would fall, but in 2020 and last year, the financial industry was doing well, and the real estate industry was also doing well last year, so the government's profit tax revenue in related aspects increased by 45 billion yuan.
In terms of stamp duty, because the property market was booming from August to September last year, and the stock market boomed again in the first half of the year, it has increased by 9 billion yuan this year.
He explained that government spending was also lower than expected, because the epidemic has reduced the cost of some services. For various reasons, the government's budget this time has a much smaller deficit than originally thought, and he is grateful that measures can be introduced more decisively.
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