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"michael mation" Discussed on World News Analysis

World News Analysis

04:17 min | 2 years ago

"michael mation" Discussed on World News Analysis

"We're being brought up to date, and we're we're paying the appropriate mounts. The government had made some improvements in the system that the victim was just talking about on the several several level system with cities and provinces and so forth. So the collection mechanisms should be improved. And there should be a now with with the indiv- indicated VAT reductions, which are which are well targeted. They're they're different reductions for manufacturing construction financial services. With with these reductions, I think that what you'll see is that the government does have the ability. To collect the taxes that that are in effect. And if there are lost revenues, they will they have very clearly indicated that the will be becalmed sitted for a couple of different ways one is by reducing spending in other parts of government, and that that's also difficult to implement, of course in any country. But my my my sense is that the government is comfortable that can achieve some some reduction in cost in those expenditures. And in addition, and what I think is very important favorable is indication that there will be transfers a fund from large so ease which which perhaps have received some favorable treatment in the past and have excess capital that will be traff transferred into the government revenue to to make up for lost. Tax dollar touch Renan be the come out of the new system. So victor. What's your take particularly Michael mation this methods to ask some SOS to transfer some money to to make up the loss at what you raise? The just now is actually philosophical question. One line of argument, always says that the governor need to collect more money and the government need to have a larger budget, for example, the need to spend the money for of righty of reasons, and if they collected less than they have less to spend and the people eventually will suffer, but the other hand there is another line of argument, which always says that the government actually does not need to collect so much money. They actually should spend less, and they should be more efficient. They should avoid the white elephant projects all the white elephant events, which cost so much money. Which are so ravage lavish, for example. And they should really practice frugality, and they should really avoid spending too much of tax payers money all these big item events now. And this line of argument always says that eventually the government reduces the burden on the companies or the individuals. Actually, you have the effect of creating a lodger pie. So eventually in do calls, at least the government eventually actually get more revenue coming in from the culprits off from the individuals. Now, I would say the immediate concern right now. The Chinese communities are faced with is that we need to really make sure that the people have enough money to dispose of by themselves, and the companies should have much less burden for example. So that they can increase their productivity. And then I. Donnelly would appeal to the cover nature's that they should avoid spending so much on some of the very much big show events, for example. So that we will achieve more or less the same results without over spending the money for the show of these events think of much that's rep up the first staff of oh program in the next half will continue our discussion about China's domestic issues and its foreign policies at our panel. Today's our current affairs commentator, Victor gal and Michael powers Zurich insurance group professor of risk and finance at the university..

government Victor gal Michael mation China Renan I. Donnelly professor