One of the highlights of the new budget law is the implementation of full-caliber budget management. For example, article 4 clearly stipulates that "all government revenues and expenditures should be included in the budget"; Article 5 clearly stipulates that "budget includes general public budget, government fund budget, state-owned capital operation budget and social insurance fund budget".

Implementing comprehensive budget management is the basic premise of establishing a modern financial system. Income is all-inclusive, including not only taxes and fees, but also income from state-owned capital operation and government funds. Expenditure should also cover all activities of the whole government; At the same time, the local government debt should be included in the budget management, so as to avoid the local government debt drifting out of the budget and out of the supervision of the NPC.

Highlight 2: Avoid "over-taxation". Budget review focuses on expenditure budget and policies.

The original budget law stipulates that the focus of budget review is revenue and expenditure, and requires the budget revenue collection department to complete the task of turning it over. Therefore, objectively, it brings the problem of "pro-cyclical" budget implementation, which easily leads to the income collection department collecting "excess tax" to complete the task when the economic growth slows down, resulting in "worse" economy; However, when the economy is overheated, in order not to raise the base, "storing wealth for the people" will not be collected, leading to "warming up" of the economy.

The new budget law aims to change this situation and expand the focus of audit budget from balance and deficit scale to expenditure budget and policy. At the same time, the revenue budget has changed from binding to anticipation. By establishing an inter-annual budget balance mechanism, we can solve the problem of over-income or short-income in budget implementation, such as limiting over-income to offset the deficit or supplementing the budget stability adjustment fund, and allowing the deficit to be supplemented in the next year's budget for short-income in the annual implementation of provincial general public budgets. These regulations emphasize the collection according to law and the collection of all accounts receivable, which helps to avoid "excessive tax collection" and enhance the effect of the government's "counter-cyclical" regulation and control policies.

Highlight 3: Standardize special transfer payment to reduce "running money"

In view of the small scale of local discretionary general transfer payments, complex overlapping of special transfer payments, limited use, scattered funds and many supporting requirements, Articles 16, 38 and 52 of the new budget law stipulate the establishment principles, objectives, budgeting methods and time limits of transfer payments.

The new budget law focuses on regulating special transfer payments, such as emphasizing the need to establish and improve the regular evaluation and withdrawal mechanism of special transfer payments, the fact that market competition mechanism can effectively regulate matters, the fact that special transfer payments are not allowed, and the fact that lower-level governments are not allowed to undertake matching funds except for matters stipulated by the State Council, which is conducive to reducing the phenomenon of "running away from the department to make money" and the improper intervention of the central authorities in local affairs, and is also conducive to the overall planning of local budgets.

Highlight 4: "Open budget" into the law to prevent corruption from the source.

Compared with the original budget law, the new budget law makes a comprehensive provision for "budget openness" for the first time. Article 14 puts forward clear and specific requirements on the scope, subject and time limit of disclosure, and requires public explanation of matters of high social concern such as transfer payment, government debt and operating expenses of organs, and stipulates the legal liability for violating the norms of budget disclosure in Article 92.

Summarizing the practical results of budget disclosure into law and forming rigid legal constraints is an important progress in the revision of budget law, which is conducive to safeguarding the people's right to know, participate and supervise, improving the level of financial management and preventing and controlling corruption from the source.

For the problem that the budget is not detailed enough, Articles 32, 37 and 46 of the new budget law have made clear provisions. For example, it is emphasized that budget expenditures at all levels should be compiled according to their functions and economic nature in the future. According to the classification of functions, we can clearly reflect the activities of government functions and know whether government expenditure is used for education or water conservancy; According to the economic classification, it clearly reflects how government expenditure is spent according to the economic attributes, and knows how much is used for paying wages and how much is used for office building construction. The two methods should not be neglected, and it is helpful to understand how the budget is realized to compile the expenditure function classification and economic classification budget respectively.

Highlight 5: Strict debt management to prevent debt risks.

Compared with the original budget law, the new budget law puts a "tight spell" on the budget supervision of local government debt management. At present, although the local government debt risk is generally controllable, most of the debts are not included in the budget management, which is divorced from the supervision of the central government and the people's congresses at the same level, and there are certain potential risks.

According to the reform idea of combining unblocking with blocking, opening the front door, blocking the back door and building a fence, Articles 35 and 94 of the new budget law stipulate the subject, purpose, scale, method, supervision and restriction mechanism and legal responsibility of debts, which legally solves the problem of how to borrow, manage and repay local government debts.

Highlight 6: "Diligence and thrift" violates the law.

In view of the problem of extravagance and waste in reality, the new budget law has made strict provisions on strict economy and hardening expenditure budget constraints. For example, article 12 clarifies the principles of overall consideration, diligence and thrift, acting according to one's ability, stressing performance and balancing revenue and expenditure, and article 37 stipulates strict control over the operating expenses of institutions and capital construction expenditures such as buildings and halls.

Compared with the original budget law, it only sets the legal responsibilities of changing the budget without authorization, controlling the state treasury funds without authorization and concealing the budget income, which is not specific enough. The new budget law reorganizes violations of law and discipline, strengthens accountability, and concentrates on refining legal responsibilities in Articles 92, 93, 94 and 95. If the government and relevant departments illegally borrow money, misappropriate key expenditure funds, or build buildings and halls outside the budget and beyond the budget standard, the directly responsible person in charge and other directly responsible personnel shall be dismissed and dismissed. In addition, those who constitute a crime will be investigated for criminal responsibility according to law.