Research On The Balance Mechanism Of China's Multiyear Budget

The budget is approved by the statutory procedures,countries and governments at all levels to implement budget management units and departments in financial revenue and expenditure plans within a certain period.Budget revenue and expenditure reflects the government's centralized control of funding sources and the size of the flow,and balance has always been a basic principle of the annual budget-balancing mechanism.As China's economic development can be an annual budget balancing mechanism required for the balance of payments resulted in many problems,such as artificial adjusted income and expenditure overruns widespread overcharges,etc.,which obviously exposed the shortcomings of the annual budget-balancing mechanism.In order to improve the scientific,forward-looking and continuity of the budget,to make it more fit economic trends and fiscal policy more in line with the requirements of reverse cycle regulation,our clearly defined in the new "Budget Law" to establish a multi-year budget balancing mechanism.Multi-year budget balancing mechanism is in financial budgeting,execution and supervision to be reasonable multi-year dynamic equilibrium systems,rather than the annual budget balancing mechanism has a great advantage.However,the provisions of the new "Budget Law" is too simple,just do the principled provision does not apply to multi-year budget balancing mechanism to make a specific provision,the lack of actual operability.Its only function to refine the multi-year budget balancing mechanism real sense,this article analyzes the problems generated by the annual budget balance mechanism in our budget practice,it introduced the multi-year budget balancing mechanism characteristics and relative comparative advantage,and objectives and functions of the multi-year budget balancing mechanism as a guide,presented the core elements of the multi-year budget balancing mechanism.This paper is divided into four parts.The first part is the introduction,the article introduces the background,research objectives and research status;the second part describes the origins of the first annual budget balancing mechanism,and then analyze practical difficulties in the next fiscal year budget balancing mechanism,our budget arise in practice that human intervention budget revenue and expenditure,surplus and severe cost overruns and budget functions can not play;the third part is an overview of the multi-year budget balancing mechanism,including its concept,features and basic requirements of the three aspects,and to illuminate the relative annual budget balancing mechanism in terms of the strengths,clearly the importance of constructing a multi-year budget balancing mechanism;fourth part combined with China's practice and the relevant provisions of the new "budget law" clearly the core elements of the multi-year budget balancing mechanism,including the scope of the mechanism,multi-year period,the proportion of funds allocated and improve the multi-year budget stabilization fund system.